Bill Few Associates Inc. Decreases Holdings in Chevron Co. (NYSE:CVX)

Bill Few Associates Inc. reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,561 shares of the oil and gas company’s stock after selling 197 shares during the period. Chevron comprises approximately 1.7% of Bill Few Associates Inc.’s portfolio, making the stock its 14th biggest holding. Bill Few Associates Inc.’s holdings in Chevron were worth $4,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in Chevron by 4.9% during the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after purchasing an additional 1,005 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Chevron during the 4th quarter valued at about $83,000. Costello Asset Management INC grew its stake in shares of Chevron by 4.5% during the 4th quarter. Costello Asset Management INC now owns 5,890 shares of the oil and gas company’s stock valued at $878,000 after acquiring an additional 251 shares during the period. Citizens National Bank Trust Department increased its holdings in Chevron by 1.3% in the 4th quarter. Citizens National Bank Trust Department now owns 51,268 shares of the oil and gas company’s stock worth $7,647,000 after acquiring an additional 649 shares in the last quarter. Finally, RPG Investment Advisory LLC boosted its position in shares of Chevron by 2.7% in the fourth quarter. RPG Investment Advisory LLC now owns 110,737 shares of the oil and gas company’s stock worth $16,518,000 after purchasing an additional 2,924 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.4 %

NYSE CVX traded up $0.52 during trading on Wednesday, reaching $144.67. 5,802,287 shares of the company’s stock traded hands, compared to its average volume of 7,898,785. The company’s 50 day simple moving average is $154.39 and its two-hundred day simple moving average is $156.08. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm has a market cap of $266.62 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.51%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. HSBC upped their target price 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. Finally, TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.82.

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.