Private Capital Management LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Private Capital Management LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 1.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,319 shares of the oil and gas company’s stock after buying an additional 320 shares during the period. Private Capital Management LLC’s holdings in Chevron were worth $2,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Berkshire Hathaway Inc boosted its stake 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 worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares in the last quarter. Norges Bank bought a new position in shares of Chevron during the fourth quarter worth $2,902,007,000. Bank of New York Mellon Corp grew its stake in Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after acquiring an additional 654,482 shares in the last quarter. Finally, Capital World Investors increased its holdings in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, TD Cowen increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Up 0.3 %

Shares of NYSE CVX traded up $0.47 during midday trading on Friday, hitting $147.27. The company’s stock had a trading volume of 6,824,045 shares, compared to its average volume of 7,882,654. The business’s 50 day moving average is $153.82 and its two-hundred day moving average is $155.92. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $271.41 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results 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). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. As a group, equities research analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.