Circle Wealth Management LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Circle Wealth Management LLC reduced its position in Chevron Co. (NYSE:CVXGet Rating) by 22.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,644 shares of the oil and gas company’s stock after selling 467 shares during the period. Circle Wealth Management LLC’s holdings in Chevron were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Chevron by 2.7% in the first quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock worth $27,317,547,000 after buying an additional 4,367,157 shares during the last quarter. Geode Capital Management LLC increased its position in Chevron by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock worth $3,776,323,000 after buying an additional 667,875 shares during the last quarter. Norges Bank purchased a new stake in Chevron in the fourth quarter worth $3,111,594,000. Charles Schwab Investment Management Inc. increased its position in Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares during the last quarter. Finally, Invesco Ltd. increased its position in Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after buying an additional 917,773 shares during the last quarter. 69.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Piper Sandler reduced their price target on Chevron from $213.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $172.00 price target on shares of Chevron in a research report on Thursday, August 4th. Barclays lifted their price target on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Morgan Stanley lifted their price target on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 6th. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.15.

Chevron Trading Up 2.6 %

Shares of CVX stock opened at $159.97 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $152.64 and a two-hundred day moving average price of $159.86. Chevron Co. has a 12-month low of $93.31 and a 12-month high of $182.40. The firm has a market cap of $314.31 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s revenue was up 82.9% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 18.29 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Activity

In other news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the completion of the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,732 shares of company stock valued at $23,024,499. Insiders own 0.32% of the company’s stock.

About Chevron

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations 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 through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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