Chevron Co. (NYSE:CVX) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,277 shares of the oil and gas company’s stock after selling 1,625 shares during the period. Connors Investor Services Inc.’s holdings in Chevron were worth $9,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc increased its holdings in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors increased its holdings in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded down $2.82 during trading hours on Friday, hitting $159.15. The stock had a trading volume of 6,427,723 shares, compared to its average volume of 6,999,900. The stock’s fifty day simple moving average is $157.34 and its 200 day simple moving average is $155.44. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market capitalization of $293.31 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 12.6 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday. They issued a “peer perform” rating for the company. Mizuho upped their price objective 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. Finally, Scotiabank decreased their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.22.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by company insiders.

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.