Peirce Capital Management LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Peirce Capital Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,131 shares of the oil and gas company’s stock after selling 521 shares during the period. Chevron makes up 0.2% of Peirce Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Peirce Capital Management LLC’s holdings in Chevron were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. International Assets Investment Management LLC boosted its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.4 %

CVX traded up $2.07 during trading on Thursday, hitting $146.91. 4,944,977 shares of the stock were exchanged, compared to its average volume of 7,800,825. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $264.01 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 2.93 and a beta of 1.10. The firm has a 50 day simple moving average of $153.81 and a 200 day simple moving average of $151.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. Truist Financial increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.19.

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.