Gemmer Asset Management LLC Has $684,000 Position in Chevron Co. (NYSE:CVX)

Gemmer Asset Management LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,376 shares of the oil and gas company’s stock after purchasing an additional 347 shares during the quarter. Gemmer Asset Management LLC’s holdings in Chevron were worth $684,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pacifica Partners Inc. grew its stake 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 worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC grew its position 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 valued at $73,000 after purchasing an additional 63 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 65 shares during the last quarter. Ellenbecker Investment Group lifted its position in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its stake in shares of Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were 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 in the company, valued at $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $0.87 during trading on Tuesday, reaching $144.15. The company’s stock had a trading volume of 7,765,779 shares, compared to its average volume of 7,912,287. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a market cap of $265.66 billion, a PE ratio of 13.23, a P/E/G ratio of 2.33 and a beta of 1.10. The business’s 50-day moving average price is $154.62 and its 200-day moving average price is $156.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.64%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 12.3 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.52%. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.