Chevron Co. (NYSE:CVX) Shares Sold by Linscomb & Williams Inc.

Linscomb & Williams Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,391 shares of the oil and gas company’s stock after selling 3,478 shares during the period. Chevron makes up about 0.7% of Linscomb & Williams Inc.’s investment portfolio, making the stock its 21st largest holding. Linscomb & Williams Inc.’s holdings in Chevron were worth $12,439,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVX. Nations Financial Group Inc. IA ADV increased its position in shares of Chevron by 5.1% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 31,096 shares of the oil and gas company’s stock valued at $4,638,000 after purchasing an additional 1,500 shares during the period. Johnson Financial Group Inc. raised its holdings in shares of Chevron by 60.1% in the 4th quarter. Johnson Financial Group Inc. now owns 13,475 shares of the oil and gas company’s stock worth $2,010,000 after purchasing an additional 5,061 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in Chevron by 0.9% during the fourth quarter. Founders Financial Alliance LLC now owns 17,151 shares of the oil and gas company’s stock worth $2,558,000 after buying an additional 161 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Chevron by 4.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 843,275 shares of the oil and gas company’s stock worth $125,783,000 after buying an additional 33,216 shares during the last quarter. Finally, Nixon Peabody Trust Co. increased its holdings in shares of Chevron by 412.5% in the fourth quarter. Nixon Peabody Trust Co. now owns 68,232 shares of the oil and gas company’s stock valued at $10,177,000 after buying an additional 54,918 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s 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 completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.10.

Chevron Price Performance

CVX traded up $0.81 during midday trading on Friday, reaching $157.75. 4,477,720 shares of the company’s stock were exchanged, compared to its average volume of 7,033,828. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization of $290.73 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The business has a 50-day simple moving average of $160.22 and a two-hundred day simple moving average of $152.54. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 earnings per share. As a group, research analysts predict 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 issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is 59.98%.

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.