Richelieu Gestion SA Invests $142,000 in Chevron Co. (NYSE:CVX)

Richelieu Gestion SA acquired a new position in shares of Chevron Co. (NYSE:CVX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 900 shares of the oil and gas company’s stock, valued at approximately $142,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the period. Berkshire Hathaway Inc boosted its holdings in shares of 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 during the last quarter. Morgan Stanley increased its holdings in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Finally, Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth about $2,902,007,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Truist Financial increased their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Trading Down 1.5 %

CVX stock traded down $2.35 during mid-day trading on Wednesday, reaching $156.11. 5,481,510 shares of the stock traded hands, compared to its average volume of 8,048,700. The stock’s fifty day moving average is $159.33 and its 200-day moving average is $154.51. The company has a market cap of $287.71 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.41 and a beta of 1.12. 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 Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Activity at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction 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 directly owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’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 value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock valued at $3,176,223. Corporate insiders own 0.20% of the company’s stock.

About Chevron

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.