New York Life Investment Management LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

New York Life Investment Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,213 shares of the oil and gas company’s stock after selling 28,516 shares during the period. New York Life Investment Management LLC’s holdings in Chevron were worth $37,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Trust Co. of Toledo NA OH increased its stake in shares of Chevron by 4.8% during the third quarter. Trust Co. of Toledo NA OH now owns 61,737 shares of the oil and gas company’s stock worth $10,410,000 after buying an additional 2,837 shares during the period. Uncommon Cents Investing LLC increased its stake in shares of Chevron by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 12,072 shares of the oil and gas company’s stock worth $2,036,000 after buying an additional 250 shares during the period. Evanson Asset Management LLC increased its stake in shares of Chevron by 8.2% during the third quarter. Evanson Asset Management LLC now owns 17,236 shares of the oil and gas company’s stock worth $2,906,000 after buying an additional 1,299 shares during the period. Charles Schwab Trust Co increased its stake in shares of Chevron by 64.7% during the third quarter. Charles Schwab Trust Co now owns 26,474 shares of the oil and gas company’s stock worth $4,464,000 after buying an additional 10,396 shares during the period. Finally, Lineweaver Wealth Advisors LLC increased its stake in shares of Chevron by 82.5% during the third quarter. Lineweaver Wealth Advisors LLC now owns 12,073 shares of the oil and gas company’s stock worth $2,036,000 after buying an additional 5,459 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded down $1.64 during midday trading on Wednesday, hitting $159.63. 7,712,360 shares of the stock were exchanged, compared to its average volume of 8,445,484. The stock has a market cap of $296.48 billion, a P/E ratio of 14.69, a PEG ratio of 2.43 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 Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a 50 day moving average price of $156.96 and a 200-day moving average price of $151.68.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 13.71 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.08%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Chevron Company 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.