EP Wealth Advisors LLC Has $14.80 Million Stock Holdings in Chevron Co. (NYSE:CVX)

EP Wealth Advisors LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,237 shares of the oil and gas company’s stock after selling 1,457 shares during the quarter. EP Wealth Advisors LLC’s holdings in Chevron were worth $14,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth $33,000. Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new position in shares of Chevron during the fourth quarter valued at about $49,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX traded down $0.27 during mid-day trading on Friday, reaching $152.57. 6,159,138 shares of the stock traded hands, compared to its average volume of 6,205,760. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $159.95 and a 200 day moving average price of $153.79. The company has a market cap of $281.18 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results 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. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.55 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. HSBC upped their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Barclays began 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. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron 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.