Baldwin Investment Management LLC Trims Position in Chevron Co. (NYSE:CVX)

Baldwin Investment Management LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,831 shares of the oil and gas company’s stock after selling 913 shares during the quarter. Baldwin Investment Management LLC’s holdings in Chevron were worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the period. Neville Rodie & Shaw Inc. boosted its position in shares of Chevron by 2.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company’s stock valued at $9,039,000 after purchasing an additional 1,767 shares in the last quarter. Bard Financial Services Inc. grew its stake in Chevron by 0.3% in the fourth quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company’s stock worth $9,087,000 after purchasing an additional 200 shares during the period. Doliver Advisors LP raised its holdings in Chevron by 0.9% in the fourth quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company’s stock worth $1,156,000 after purchasing an additional 70 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its position in Chevron by 0.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company’s stock valued at $29,115,000 after buying an additional 1,092 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.27.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Up 1.7 %

Shares of NYSE:CVX opened at $138.53 on Friday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market capitalization of $243.90 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s 50-day simple moving average is $149.76 and its two-hundred day simple moving average is $152.56.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.