Chevron Co. (NYSE:CVX) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,859,108 shares of the oil and gas company’s stock after selling 846,010 shares during the period. Chevron accounts for approximately 0.6% of Northern Trust Corp’s portfolio, making the stock its 23rd biggest holding. Northern Trust Corp’s holdings in Chevron were worth $3,260,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Octavia Wealth Advisors LLC grew its stake in shares of Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 68 shares during the last quarter. Investment Partners LTD. grew its stake in shares of Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares during the last quarter. Certified Advisory Corp grew its stake in shares of Chevron by 0.4% during the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares during the last quarter. ACT Wealth Management LLC lifted its holdings in Chevron by 1.7% in the fourth quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 70 shares during the period. Finally, Concorde Asset Management LLC lifted its holdings in Chevron by 4.0% in the third quarter. Concorde Asset Management LLC now owns 1,852 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 71 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Truist Financial increased their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Read Our Latest Research Report on CVX

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock valued at $3,176,223. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock traded up $0.68 during midday trading on Friday, hitting $156.61. 545,390 shares of the company were exchanged, compared to its average volume of 8,000,309. The firm has a market capitalization of $288.63 billion, a P/E ratio of 14.34, a PEG ratio of 2.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm’s 50 day moving average price is $160.55 and its two-hundred day moving average price is $153.36. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.55 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

About Chevron

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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