Bourgeon Capital Management LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Bourgeon Capital Management LLC decreased its stake in Chevron Co. (NYSE:CVX) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,869 shares of the oil and gas company’s stock after selling 73 shares during the period. Bourgeon Capital Management LLC’s holdings in Chevron were worth $1,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mill Creek Capital Advisors LLC lifted its stake in shares of Chevron by 3.2% in the second quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock worth $659,000 after acquiring an additional 131 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in shares of Chevron by 14.3% in the second quarter. Wescott Financial Advisory Group LLC now owns 3,277 shares of the oil and gas company’s stock worth $513,000 after acquiring an additional 411 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Chevron in the second quarter worth about $57,992,000. Fred Alger Management LLC raised its stake in Chevron by 7.4% during the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock valued at $10,022,000 after buying an additional 4,435 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Chevron during the second quarter valued at approximately $45,941,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 1.2 %

Shares of NYSE CVX opened at $156.39 on Thursday. The firm has a market capitalization of $281.05 billion, a PE ratio of 17.19, a PEG ratio of 1.45 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $154.09 and a two-hundred day moving average price of $151.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. As a group, analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James increased their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial increased their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron 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.