Clear Creek Financial Management LLC lifted its holdings of Chevron Co. (NYSE: CLC – Get a rating) by 127.3% in the first quarter, HoldingsChannel reports. The company held 8,535 shares in the oil and gas company after acquiring an additional 4,780 shares during the period. Clear Creek Financial Management LLC’s holdings in Chevron were worth $1,390,000 at the end of the most recent reporting period.
Other hedge funds also changed their holdings in the company. Berger Financial Group Inc bought a new stake in Chevron in Q4 worth approximately $264,000. NewSquare Capital LLC increased its stake in Chevron by 9.7% in the fourth quarter. NewSquare Capital LLC now owns 21,587 shares of the oil and gas company worth $2,533,000 after acquiring an additional 1,905 shares during the period. Norris Perne & French LLP MI bought a new stake in Chevron in the 4th quarter for a value of approximately $224,000. Ascent Wealth Partners LLC increased its stake in Chevron by 9.3% in the fourth quarter. Ascent Wealth Partners LLC now owns 10,838 shares of the oil and gas company worth $1,272,000 after acquiring 925 additional shares during the period. Finally, Brown Advisory Inc. increased its stake in Chevron by 2.9% in the 4th quarter. Brown Advisory Inc. now owns 180,444 shares of the oil and gas company worth $21,175,000 after acquiring an additional 5,150 shares during the period. 65.89% of the shares are held by hedge funds and other institutional investors.
Analysts set new price targets
Several analysts have commented on CVX shares. Cowen lowered his target price on Chevron shares from $179.00 to $160.00 and set an “outperform” rating for the company in a Friday, July 1 research note. Goldman Sachs Group lowered its price target on Chevron shares from $181.00 to $162.00 and set a “neutral” rating for the company in a Wednesday, June 22 research note. Morgan Stanley raised its price target on Chevron shares from $185.00 to $190.00 and gave the company an “equal weight” rating in a Tuesday, July 19 research note. Cowen lowered his price target on Chevron shares from $179.00 to $160.00 and set an “outperform” rating for the company in a Friday, July 1 research note. Finally, Truist Financial lowered its price target on Chevron shares from $170.00 to $166.00 and set a “holding” rating for the company in a Tuesday, July 19 research note. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned the company’s stock a buy rating. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.35.
Chevron Stock Performance
NYSE: CLC opened at $144.19 on Monday. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt ratio of 0.20. The company has a market capitalization of $283.31 billion, a price-earnings ratio of 13.55, a PEG ratio of 0.60 and a beta of 1.14. The company’s fifty-day simple moving average is $158.07 and its 200-day simple moving average is $153.88.
Herringbone (NYSE: CLC – Get a rating) last released its quarterly earnings data on Friday, April 29. The oil and gas company reported EPS of $3.36 for the quarter, missing analyst consensus estimates of $3.44 per ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company posted revenue of $54.37 billion in the quarter, versus analyst estimates of $54.96 billion. During the same quarter of the previous year, the company achieved EPS of $0.90. The company’s quarterly revenue increased by 69.8% compared to the same quarter last year. As a group, equity research analysts expect Chevron Co. to post earnings per share of 18.08 for the current fiscal year.
Chevron Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Thursday, May 19 received a dividend of $1.42. The ex-dividend date was Wednesday, May 18. This represents a dividend of $5.68 on an annualized basis and a yield of 3.94%. Chevron’s dividend payout ratio is currently 53.38%.
Insiders place their bets
In other Chevron news, Director Enrique Hernandez, Jr. sold 5,805 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $160.00, for a total value of $928,800.00. Following the transaction, the administrator now owns 22,978 shares of the company, valued at approximately $3,676,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In other news, Director Enrique Hernández, Jr. sold 5,805 shares of the company in a transaction dated Tuesday, May 3. The shares were sold at an average price of $160.00, for a total value of $928,800.00. As a result of the sale, the administrator now owns 22,978 shares of the company, valued at approximately $3,676,480. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. Also, director Wanda M. Austin sold 12,039 shares of the company in a transaction dated Friday, May 27. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the sale, the administrator now owns 3,543 shares of the company, valued at approximately $628,138.47. Disclosure of this sale can be found here. Insiders sold 561,726 shares of the company worth $94,057,396 during the last quarter. 0.32% of the shares are held by insiders.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production and transportation of crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transportation of crude oil by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.
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