Choreo LLC Has $9.71 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Choreo LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,101 shares of the oil and gas company’s stock after purchasing an additional 8,159 shares during the period. Choreo LLC’s holdings in Chevron were worth $9,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Chevron by 1.7% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 21,534 shares of the oil and gas company’s stock valued at $3,212,000 after purchasing an additional 351 shares in the last quarter. Mather Group LLC. boosted its position in Chevron by 10.8% during the 4th quarter. Mather Group LLC. now owns 25,693 shares of the oil and gas company’s stock worth $3,832,000 after buying an additional 2,504 shares during the period. Gilbert & Cook Inc. grew its holdings in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the last quarter. Capital Investment Counsel Inc raised its stake in shares of Chevron by 31.5% during the fourth quarter. Capital Investment Counsel Inc now owns 7,664 shares of the oil and gas company’s stock valued at $1,143,000 after acquiring an additional 1,837 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC lifted its holdings in shares of Chevron by 2.8% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 5,959 shares of the oil and gas company’s stock worth $889,000 after purchasing an additional 164 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.06 during mid-day trading on Monday, reaching $166.95. The company had a trading volume of 2,858,554 shares, compared to its average volume of 8,409,968. The company’s 50-day moving average price is $156.58 and its 200-day moving average price is $151.66. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $310.07 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.91%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Company upped their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $185.25.

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.