Chevron Co. (NYSE:CVX) Shares Sold by M. Kraus & Co

M. Kraus & Co trimmed its holdings in Chevron Co. (NYSE:CVX) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,347 shares of the oil and gas company’s stock after selling 256 shares during the quarter. M. Kraus & Co’s holdings in Chevron were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CVX. International Assets Investment Management LLC grew its position in Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Finally, State Street Corp lifted its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $158.25 on Thursday. The company has a market capitalization of $284.39 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.62 and a beta of 1.12. The firm has a 50 day moving average of $153.78 and a two-hundred day moving average of $150.95. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. Chevron’s payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

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.