Brighton Jones LLC Sells 1,265 Shares of Chevron Co. (NYSE:CVX)

Brighton Jones LLC decreased its position in Chevron Co. (NYSE:CVX) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,047 shares of the oil and gas company’s stock after selling 1,265 shares during the period. Brighton Jones LLC’s holdings in Chevron were worth $4,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC increased its holdings in Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares during the period. Pacer Advisors Inc. boosted its stake in Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Finally, State Street Corp increased its stake in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Performance

Shares of CVX stock opened at $155.62 on Friday. The stock has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a fifty day moving average price of $153.93 and a two-hundred day moving average price of $151.14. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

About Chevron

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.