Chapman Investment Management LLC Sells 5,266 Shares of Chevron Co. (NYSE:CVX)

Chapman Investment Management LLC lessened its stake in Chevron Co. (NYSE:CVX) by 49.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,397 shares of the oil and gas company’s stock after selling 5,266 shares during the quarter. Chevron makes up about 0.6% of Chapman Investment Management LLC’s holdings, making the stock its 27th largest position. Chapman Investment Management LLC’s holdings in Chevron were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC bought a new position in shares of Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVX shares. Mizuho raised 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. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity at Chevron

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

Chevron Stock Performance

Shares of NYSE CVX traded up $0.61 during mid-day trading on Friday, hitting $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a market capitalization of $308.10 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $156.58 and its 200-day moving average price is $151.83.

Chevron (NYSE:CVX) 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 the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.55 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is 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.