Davis R M Inc. Has $3.68 Million Stake in Chevron Co. (NYSE:CVX)

Davis R M Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 24,698 shares of the oil and gas company’s stock after selling 929 shares during the period. Davis R M Inc.’s holdings in Chevron were worth $3,684,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new position in Chevron during the third quarter valued at approximately $26,000. Bare Financial Services Inc acquired a new position in Chevron during the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during 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 during the period. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at approximately $33,000. Finally, Roble Belko & Company Inc grew its holdings in Chevron by 77.3% during 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 during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Truist Financial boosted their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.10.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.42 on Wednesday, hitting $158.55. The company had a trading volume of 2,677,482 shares, compared to its average volume of 8,155,615. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $160.08 and a 200 day moving average price of $152.34. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a market cap of $292.84 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.38 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the company posted $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.11%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,796 shares of company stock worth $2,575,361. 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.