Horan Capital Advisors LLC. Trims Stock Position in Chevron Co. (NYSE:CVX)

Horan Capital Advisors LLC. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,136 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Chevron were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVX. Pacifica Partners Inc. boosted its position in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares in the last quarter. Ellenbecker Investment Group boosted its holdings in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares in the last quarter. Mayfair Advisory Group LLC boosted its holdings in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after acquiring an additional 65 shares in the last quarter. Finally, Penbrook Management LLC boosted its holdings in Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVX shares. Wells Fargo & Company increased their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock valued at $2,727,971 over the last three months. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded down $2.40 on Friday, hitting $154.31. 6,183,056 shares of the stock traded hands, compared to its average volume of 6,945,543. The business’s fifty day moving average is $158.45 and its two-hundred day moving average is $154.93. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a market capitalization of $284.39 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is currently 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.