Grandfield & Dodd LLC Decreases Holdings in Chevron Corporation $CVX

Grandfield & Dodd LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,770 shares of the oil and gas company’s stock after selling 2,806 shares during the period. Grandfield & Dodd LLC’s holdings in Chevron were worth $17,645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management lifted its stake in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after buying an additional 10,822 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of Chevron during the third quarter valued at about $431,000. Clear Trail Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $10,167,000. Finemark National Bank & Trust increased its position in shares of Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $1,381,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Citigroup lifted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Finally, Mizuho lifted their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $205.70.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Chevron Stock Down 0.3%

Shares of NYSE:CVX opened at $182.44 on Friday. The company has a market capitalization of $363.34 billion, a PE ratio of 31.62, a P/E/G ratio of 0.60 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $135.21 and a twelve month high of $214.71. The firm has a 50 day simple moving average of $192.27 and a 200-day simple moving average of $175.69.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 EPS. On average, equities analysts predict that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,144,224 shares of company stock worth $218,075,038. 0.56% of the stock is owned by insiders.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.