Sapient Capital LLC Takes Position in Chevron Co. (NYSE:CVX)

Sapient Capital LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, Holdings Channel.com reports. The fund bought 371,888 shares of the oil and gas company’s stock, valued at approximately $55,471,000. Chevron comprises about 1.4% of Sapient Capital LLC’s portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in CVX. Vanguard Group Inc. grew its position in shares of Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the last quarter. Morgan Stanley increased its stake in Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after purchasing an additional 368,898 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after buying an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after buying an additional 62,254 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

CVX stock traded down $0.48 during mid-day trading on Friday, reaching $160.25. The company’s stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $157.26 and its 200 day moving average price is $151.76. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the business posted $3.55 EPS. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen boosted 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. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

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.