First Long Island Investors LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

First Long Island Investors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,284 shares of the oil and gas company’s stock after selling 704 shares during the quarter. First Long Island Investors LLC’s holdings in Chevron were worth $16,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CVX. Norges Bank purchased a new stake in Chevron during the fourth quarter worth about $2,902,007,000. Berkshire Hathaway Inc increased its stake in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Capital World Investors increased its stake in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after purchasing an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $0.12 during trading on Thursday, hitting $155.25. The stock had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. The company’s 50 day moving average price is $157.85 and its two-hundred day moving average price is $155.03. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a market cap of $286.12 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm 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 firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 13.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock worth $2,727,971 in the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company increased their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

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.