Winthrop Advisory Group LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Winthrop Advisory Group LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 10.1% during the first quarter, HoldingsChannel reports. The firm owned 3,985 shares of the oil and gas company’s stock after selling 446 shares during the period. Winthrop Advisory Group LLC’s holdings in Chevron were worth $629,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Caxton Associates LP purchased a new position in Chevron during the 3rd quarter valued at about $207,000. Hodges Capital Management Inc. boosted its position in Chevron by 6.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 7,855 shares of the oil and gas company’s stock valued at $1,325,000 after acquiring an additional 445 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Chevron by 45.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 84,141 shares of the oil and gas company’s stock valued at $14,188,000 after acquiring an additional 26,413 shares in the last quarter. AXQ Capital LP bought a new stake in Chevron during the 3rd quarter valued at approximately $1,518,000. Finally, Ariel Investments LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $1,654,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. TD Cowen boosted their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Performance

Shares of CVX stock traded up $0.10 on Friday, reaching $156.42. The stock had a trading volume of 11,283,390 shares, compared to its average volume of 7,477,035. The stock has a market cap of $288.28 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. 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 Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a 50 day simple moving average of $159.22 and a 200 day simple moving average of $154.71.

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, topping 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 for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, 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 ninety days, insiders have sold 19,546 shares of company stock worth $3,176,223. Company insiders own 0.20% of the company’s stock.

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.