Tevis Investment Management Raises Stock Position in Chevron Co. (NYSE:CVX)

Tevis Investment Management grew its holdings in Chevron Co. (NYSE:CVX) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,081 shares of the oil and gas company’s stock after acquiring an additional 1,595 shares during the period. Chevron comprises about 1.2% of Tevis Investment Management’s investment portfolio, making the stock its 27th biggest position. Tevis Investment Management’s holdings in Chevron were worth $1,432,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Caxton Associates LP purchased a new position in shares of Chevron during the third quarter valued at about $207,000. United Services Automobile Association raised its holdings in shares of Chevron by 13.9% during the 3rd quarter. United Services Automobile Association now owns 48,859 shares of the oil and gas company’s stock worth $8,239,000 after acquiring an additional 5,968 shares in the last quarter. Hodges Capital Management Inc. boosted its position in shares of 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 during the last quarter. Lazard Asset Management LLC increased its position in Chevron by 7.6% in the third quarter. Lazard Asset Management LLC now owns 5,182,317 shares of the oil and gas company’s stock worth $873,841,000 after purchasing an additional 364,969 shares during the last quarter. Finally, Kidder Stephen W lifted its position in Chevron by 10.9% during the third quarter. Kidder Stephen W now owns 30,892 shares of the oil and gas company’s stock valued at $5,209,000 after purchasing an additional 3,046 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

NYSE:CVX opened at $156.42 on Friday. The stock has a market capitalization of $288.28 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company’s 50-day simple moving average is $159.22 and its 200-day simple moving average is $154.62.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating 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 firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Mizuho increased 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. Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.