Corton Capital Inc. Lowers Stake in Chevron Co. (NYSE:CVX)

Corton Capital Inc. cut its stake in Chevron Co. (NYSE:CVX) by 22.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,021 shares of the oil and gas company’s stock after selling 573 shares during the period. Corton Capital Inc.’s holdings in Chevron were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC lifted its stake in shares of Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 168 shares during the last quarter. Worth Asset Management LLC boosted its stake in shares of Chevron by 52.8% during the fourth quarter. Worth Asset Management LLC now owns 2,695 shares of the oil and gas company’s stock valued at $390,000 after purchasing an additional 931 shares during the period. Fulton Bank N.A. grew its holdings in shares of Chevron by 5.8% in the fourth quarter. Fulton Bank N.A. now owns 52,878 shares of the oil and gas company’s stock worth $7,659,000 after purchasing an additional 2,909 shares during the last quarter. InvesTrust purchased a new position in shares of Chevron in the fourth quarter worth $5,948,000. Finally, Douglas Lane & Associates LLC raised its holdings in Chevron by 6.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 480,006 shares of the oil and gas company’s stock valued at $69,524,000 after buying an additional 27,742 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $135.87 on Wednesday. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $239.22 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.46 and a beta of 0.83. The business’s 50 day moving average price is $148.95 and its 200-day moving average price is $152.34.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued 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 yield of 5.03%. Chevron’s payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.25.

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.