Chevron Corporation (NYSE:CVX) Shares Sold by Hendley & Co. Inc.

Hendley & Co. Inc. cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,318 shares of the oil and gas company's stock after selling 6,971 shares during the period. Chevron makes up about 3.2% of Hendley & Co. Inc.'s investment portfolio, making the stock its 8th largest holding. Hendley & Co. Inc.'s holdings in Chevron were worth $9,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth $3,017,750,000. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Amundi raised its position in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Capital World Investors lifted its holdings in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.7%

NYSE:CVX traded down $0.97 during mid-day trading on Monday, reaching $147.40. The stock had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,466. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $257.42 billion, a P/E ratio of 16.85, a PEG ratio of 2.51 and a beta of 0.83. The business's 50 day moving average is $141.16 and its 200 day moving average is $148.15. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Barclays increased their target price on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday. Piper Sandler raised their price objective on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $160.65.

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.