Court Place Advisors LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Court Place Advisors LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,247 shares of the oil and gas company’s stock after selling 291 shares during the period. Court Place Advisors LLC’s holdings in Chevron were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVX. Quarry LP boosted its position in Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 260 shares during the last quarter. Next Capital Management LLC boosted its holdings in Chevron by 22.9% in the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 375 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in Chevron by 1.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock valued at $3,832,000 after purchasing an additional 372 shares in the last quarter. McGinn Penninger Investment Management Inc. increased its holdings in Chevron by 1.9% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after purchasing an additional 540 shares during the last quarter. Finally, SPC Financial Inc. raised its position in shares of Chevron by 23.8% in the 2nd quarter. SPC Financial Inc. now owns 5,671 shares of the oil and gas company’s stock valued at $887,000 after purchasing an additional 1,092 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report 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 on the stock in a research report on Thursday, October 10th. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Performance

CVX stock opened at $156.24 on Wednesday. The stock’s fifty day moving average is $153.74 and its two-hundred day moving average is $151.12. The stock has a market capitalization of $280.78 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 last year, the firm posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio is presently 71.65%.

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.