Chevron Co. (NYSE:CVX) Shares Sold by VAUGHAN & Co SECURITIES INC.

Posted by on Jul 2nd, 2023

VAUGHAN & Co SECURITIES INC. lowered its position in Chevron Co. (NYSE:CVX – Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,023 shares of the oil and gas company’s stock after selling 286 shares during the quarter. VAUGHAN & Co SECURITIES INC.’s holdings in Chevron were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Morgan Stanley boosted its position in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the period. Moneta Group Investment Advisors LLC lifted its position in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares in the last quarter. Norges Bank purchased a new position in Chevron in the 4th quarter worth approximately $3,058,235,000. Charles Schwab Investment Management Inc. grew its position in Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after acquiring an additional 189,762 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Chevron by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 14,164,343 shares of the oil and gas company’s stock valued at $2,542,358,000 after purchasing an additional 354,084 shares during the period. Hedge funds and other institutional investors own 69.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research note on Tuesday, April 4th. Mizuho decreased their price objective on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Piper Sandler dropped their target price on Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Raymond James reduced their price target on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a report on Friday, April 14th. Finally, StockNews.com initiated coverage on Chevron in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.35 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $157.44 and its two-hundred day moving average price is $165.06. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The stock has a market capitalization of $298.12 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.79 and a beta of 1.17.

Chevron (NYSE:CVX – Free Report) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. During the same period in the prior year, the firm earned $3.36 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is 32.61%.

Chevron Company Profile

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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