Manchester Capital Management LLC Has $682,000 Position in Chevron Co. (NYSE:CVX)

Manchester Capital Management LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 29.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,571 shares of the oil and gas company’s stock after selling 1,863 shares during the period. Manchester Capital Management LLC’s holdings in Chevron were worth $682,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC boosted its stake in Chevron by 17.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 52,794 shares of the oil and gas company’s stock worth $7,875,000 after acquiring an additional 7,772 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Chevron by 46.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 28,872 shares of the oil and gas company’s stock worth $4,307,000 after purchasing an additional 9,120 shares in the last quarter. NDVR Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $267,000. TrinityPoint Wealth LLC increased its position in shares of Chevron by 6.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after buying an additional 680 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Chevron by 1.3% during the 4th quarter. Main Street Financial Solutions LLC now owns 16,631 shares of the oil and gas company’s stock worth $2,481,000 after buying an additional 217 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value 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. Insiders sold a total of 15,796 shares of company stock worth $2,575,361 over the last quarter. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX traded up $1.58 during mid-day trading on Friday, reaching $162.67. The company’s stock had a trading volume of 5,497,919 shares, compared to its average volume of 7,496,353. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market cap of $300.45 billion, a P/E ratio of 14.97, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business has a 50-day simple moving average of $159.73 and a two-hundred day simple moving average of $152.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.55 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Truist Financial boosted their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho upped 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, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.10.

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.