Courier Capital LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Courier Capital LLC cut its stake in Chevron Co. (NYSE:CVX) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,132 shares of the oil and gas company’s stock after selling 1,045 shares during the period. Courier Capital LLC’s holdings in Chevron were worth $9,958,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LP purchased a new position in shares of Chevron in the third quarter worth about $207,000. Richard Bernstein Advisors LLC lifted its position in Chevron by 183.2% in the third quarter. Richard Bernstein Advisors LLC now owns 53,174 shares of the oil and gas company’s stock valued at $8,966,000 after purchasing an additional 34,398 shares during the last quarter. Dempze Nancy E boosted its stake in shares of Chevron by 6.9% during the third quarter. Dempze Nancy E now owns 4,617 shares of the oil and gas company’s stock valued at $779,000 after purchasing an additional 300 shares during the period. Waverly Advisors LLC grew its holdings in shares of Chevron by 34.6% in the third quarter. Waverly Advisors LLC now owns 35,392 shares of the oil and gas company’s stock worth $5,968,000 after purchasing an additional 9,095 shares during the last quarter. Finally, Blackstone Inc. increased its stake in shares of Chevron by 76.2% in the third quarter. Blackstone Inc. now owns 13,529 shares of the oil and gas company’s stock worth $2,281,000 after buying an additional 5,851 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.10 during mid-day trading on Friday, reaching $156.42. The stock had a trading volume of 11,234,612 shares, compared to its average volume of 8,082,886. The company has a market cap of $288.28 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The business’s 50 day moving average price is $159.32 and its 200 day moving average price is $154.52. 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 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 in the prior year, the firm earned $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, TD Cowen raised their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by company insiders.

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.