Chevron Co. (NYSE:CVX) is ACR Alpine Capital Research LLC’s 10th Largest Position

ACR Alpine Capital Research LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,186,600 shares of the oil and gas company’s stock after purchasing an additional 159,172 shares during the quarter. Chevron makes up 5.7% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 10th largest holding. ACR Alpine Capital Research LLC owned 0.06% of Chevron worth $187,174,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Pacifica Partners Inc. boosted its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC boosted its holdings in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares during the period. Ellenbecker Investment Group boosted its holdings in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares during the period. Mayfair Advisory Group LLC boosted its holdings in Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after acquiring an additional 65 shares during the period. Finally, Penbrook Management LLC boosted its holdings in Chevron by 3.9% during the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 65 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, 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. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of 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 company’s fifty day moving average price is $157.85 and its two-hundred day moving average price is $155.03. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market capitalization of $286.12 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its 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 company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CVX shares. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.