Crescent Sterling Ltd. Has $4.44 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Crescent Sterling Ltd. increased its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,156 shares of the oil and gas company’s stock after acquiring an additional 503 shares during the quarter. Chevron comprises 4.0% of Crescent Sterling Ltd.’s holdings, making the stock its 3rd biggest position. Crescent Sterling Ltd.’s holdings in Chevron were worth $4,441,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Sutton Place Investors LLC grew its position in Chevron by 29.9% during the 1st quarter. Sutton Place Investors LLC now owns 16,504 shares of the oil and gas company’s stock worth $2,603,000 after purchasing an additional 3,799 shares during the last quarter. Bristlecone Advisors LLC grew its position in Chevron by 0.8% during the 1st quarter. Bristlecone Advisors LLC now owns 16,951 shares of the oil and gas company’s stock worth $2,674,000 after purchasing an additional 130 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in Chevron by 0.9% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 17,247 shares of the oil and gas company’s stock worth $2,720,000 after purchasing an additional 147 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Chevron by 27.6% during the 1st quarter. Strategic Financial Concepts LLC now owns 5,831 shares of the oil and gas company’s stock worth $920,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its position in Chevron by 21.8% during the 1st quarter. Confluence Wealth Services Inc. now owns 33,070 shares of the oil and gas company’s stock worth $5,216,000 after purchasing an additional 5,911 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the 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 sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Price Performance

NYSE:CVX traded down $5.06 during trading hours on Tuesday, reaching $161.27. 8,382,708 shares of the company were exchanged, compared to its average volume of 8,454,227. 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 stock’s 50-day moving average is $156.96 and its 200-day moving average is $151.68. The firm has a market cap of $299.52 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Chevron 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.