Chevron Co. (NYSE:CVX) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lessened its stake in Chevron Co. (NYSE:CVX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,983 shares of the oil and gas company’s stock after selling 615 shares during the quarter. Romano Brothers AND Company’s holdings in Chevron were worth $1,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Vanguard Group Inc. raised its holdings in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley raised its holdings in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Finally, Northern Trust Corp raised its holdings in Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Mizuho increased their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler reduced their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.60.

Chevron Price Performance

CVX stock opened at $158.96 on Monday. The firm has a market capitalization of $295.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business has a 50 day simple moving average of $154.92 and a 200-day simple moving average of $152.01.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.09 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.10%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.