Burns J W & Co. Inc. NY Sells 1,349 Shares of Chevron Co. (NYSE:CVX)

Burns J W & Co. Inc. NY lowered its stake in Chevron Co. (NYSE:CVX) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,675 shares of the oil and gas company’s stock after selling 1,349 shares during the quarter. Chevron makes up approximately 1.7% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 13th largest position. Burns J W & Co. Inc. NY’s holdings in Chevron were worth $11,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVX. Bare Financial Services Inc acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron in the 4th quarter valued at approximately $30,000. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at $33,000. Cooksen Wealth LLC bought a new stake in shares of Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC increased its holdings in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Price Performance

Shares of NYSE CVX opened at $156.42 on Friday. The stock has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm’s 50-day simple moving average is $159.22 and its 200 day simple moving average is $154.71.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.55 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

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.