Broderick Brian C Has $4.23 Million Position in Chevron Co. (NYSE:CVX)

Broderick Brian C cut its holdings in Chevron Co. (NYSE:CVX) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,785 shares of the oil and gas company’s stock after selling 781 shares during the quarter. Broderick Brian C’s holdings in Chevron were worth $4,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the period. Camelot Portfolios LLC acquired a new position in Chevron during the 4th quarter worth about $254,000. Kapstone Financial Advisors LLC lifted its position in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares in the last quarter. Eagle Capital Management LLC lifted its position in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Finally, Lane & Associates LLC acquired a new position in Chevron during the 1st quarter valued at about $345,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.1 %

Shares of NYSE CVX traded up $0.12 during trading hours on Thursday, hitting $155.25. The company had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. The stock has a market capitalization of $286.12 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. 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 Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s 50 day moving average is $157.85 and its 200-day moving average is $155.03.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the firm posted $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVX shares. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial upped their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Five 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

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.