Cable Hill Partners LLC Has $837,000 Holdings in Chevron Co. (NYSE:CVX)


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Cable Hill Partners LLC lessened its position in Chevron Co. (NYSE:CVX) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,910 shares of the oil and gas company’s stock after selling 300 shares during the period. Chevron makes up about 0.2% of Cable Hill Partners LLC’s holdings, making the stock its 27th largest position. Cable Hill Partners LLC’s holdings in Chevron were worth $837,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVX. Grandview Asset Management LLC lifted its stake in Chevron by 3.9% in the fourth quarter. Grandview Asset Management LLC now owns 2,949 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 112 shares during the last quarter. Ellenbecker Investment Group raised its stake in shares of Chevron by 3.0% during the fourth quarter. Ellenbecker Investment Group now owns 3,870 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 113 shares in the last quarter. Sowa Financial Group Inc. raised its stake in shares of Chevron by 20.3% during the fourth quarter. Sowa Financial Group Inc. now owns 724 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 122 shares in the last quarter. Aries Wealth Management raised its stake in shares of Chevron by 1.0% during the fourth quarter. Aries Wealth Management now owns 11,838 shares of the oil and gas company’s stock valued at $1,078,000 after acquiring an additional 122 shares in the last quarter. Finally, Forte Capital LLC ADV raised its stake in shares of Chevron by 1.7% during the fourth quarter. Forte Capital LLC ADV now owns 7,359 shares of the oil and gas company’s stock valued at $621,000 after acquiring an additional 124 shares in the last quarter. 62.27% of the stock is owned by hedge funds and other institutional investors.

CVX has been the topic of several research reports. Smith Barney Citigroup lifted their price objective on shares of Chevron from $69.00 to $90.00 in a report on Wednesday, December 9th. Scotiabank raised shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $110.00 in a report on Thursday, January 14th. Credit Suisse Group lifted their price objective on shares of Chevron from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Morgan Stanley cut their price objective on shares of Chevron from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, January 11th. Finally, Truist lifted their price target on shares of Chevron in a report on Monday, January 4th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Chevron currently has an average rating of “Buy” and an average price target of $104.62.

In related news, CEO Michael K. Wirth sold 132,000 shares of the business’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the completion of the transaction, the chief executive officer now directly owns 132,000 shares in the company, valued at $12,504,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 20th. The shares were sold at an average price of $95.00, for a total transaction of $1,235,000.00. Following the transaction, the chief financial officer now owns 13,686 shares of the company’s stock, valued at $1,300,170. The disclosure for this sale can be found here. Insiders have sold 159,700 shares of company stock valued at $15,133,067 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Shares of CVX traded up $0.10 during trading hours on Tuesday, reaching $98.49. 252,012 shares of the company traded hands, compared to its average volume of 10,065,750. The stock has a market capitalization of $183.91 billion, a P/E ratio of -16.02, a P/E/G ratio of 5.74 and a beta of 1.33. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. Chevron Co. has a 12-month low of $51.60 and a 12-month high of $106.96. The business has a fifty day moving average price of $91.13 and a 200-day moving average price of $83.85.

Chevron (NYSE:CVX) last posted its earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The business had revenue of $25.25 billion for the quarter, compared to analyst estimates of $25.97 billion. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share. As a group, research analysts predict that Chevron Co. will post 0.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Tuesday, February 16th. This represents a $5.16 dividend on an annualized basis and a yield of 5.24%. Chevron’s dividend payout ratio is presently 82.30%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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