Burns J W & Co. Inc. NY Has $11.18 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Burns J W & Co. Inc. NY increased its stake in Chevron Co. (NYSE:CVX) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,215 shares of the oil and gas company’s stock after acquiring an additional 2,724 shares during the quarter. Chevron comprises 1.4% of Burns J W & Co. Inc. NY’s holdings, making the stock its 17th largest holding. Burns J W & Co. Inc. NY’s holdings in Chevron were worth $11,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its position in Chevron by 5.2% during the second quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after acquiring an additional 2,385 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of Chevron in the 2nd quarter valued at about $591,000. Black Diamond Financial LLC bought a new stake in shares of Chevron during the 2nd quarter valued at about $301,000. Massachusetts Financial Services Co. MA grew its stake in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Chevron Stock Performance

NYSE CVX opened at $155.07 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a fifty day moving average price of $153.71 and a 200-day moving average price of $150.94. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $278.67 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Company 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.