Silvercrest Asset Management Group LLC Has $101.82 Million Holdings in Chevron Co. (NYSE:CVX)

Silvercrest Asset Management Group LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 702,970 shares of the oil and gas company’s stock after selling 8,645 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Chevron were worth $101,818,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. TFB Advisors LLC lifted its position in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. increased its stake in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Meridian Financial Partners LLC grew its holdings in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares during the last quarter. Finally, Western Pacific Wealth Management LP increased its position in shares of Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 0.3%

CVX opened at $142.14 on Friday. The company has a market cap of $248.23 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average price of $146.89 and a 200 day moving average price of $151.81.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.81%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.