Gradient Capital Advisors LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Gradient Capital Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,569 shares of the oil and gas company’s stock after selling 89 shares during the period. Gradient Capital Advisors LLC’s holdings in Chevron were worth $1,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Caxton Associates LP acquired a new stake in Chevron in the third quarter valued at $207,000. Ariel Investments LLC acquired a new stake in Chevron in the third quarter valued at $1,654,000. Ameriprise Financial Inc. lifted its holdings in Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after acquiring an additional 62,254 shares during the period. Alps Advisors Inc. acquired a new stake in Chevron in the third quarter valued at $347,000. Finally, Alerus Financial NA lifted its holdings in Chevron by 76.9% in the third quarter. Alerus Financial NA now owns 96,173 shares of the oil and gas company’s stock valued at $16,217,000 after acquiring an additional 41,806 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently 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 stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.1 %

CVX opened at $156.42 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market capitalization of $288.28 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The business has a 50-day moving average of $159.22 and a two-hundred day moving average of $154.78. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 EPS. On average, research analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

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

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.