Chevron Co. (NYSE:CVX) Shares Bought by Hemenway Trust Co LLC

Hemenway Trust Co LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 23.1% in the first quarter, HoldingsChannel reports. The firm owned 144,638 shares of the oil and gas company’s stock after buying an additional 27,099 shares during the period. Chevron accounts for about 2.0% of Hemenway Trust Co LLC’s holdings, making the stock its 24th biggest holding. Hemenway Trust Co LLC’s holdings in Chevron were worth $22,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Norges Bank acquired a new position in Chevron during the fourth quarter valued at $2,902,007,000. Berkshire Hathaway Inc raised its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Capital World Investors raised its position in shares of Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after acquiring an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of NYSE:CVX traded up $0.12 during trading hours on Thursday, reaching $155.25. The stock had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm’s 50 day moving average is $157.85 and its 200-day moving average is $155.03. 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 stock has a market capitalization of $286.12 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm posted $3.55 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 13.18 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. Investors of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial boosted their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.