Baldwin Investment Management LLC Sells 472 Shares of Chevron Co. (NYSE:CVX)

Baldwin Investment Management LLC lowered its position in Chevron Co. (NYSE:CVX) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,744 shares of the oil and gas company’s stock after selling 472 shares during the period. Baldwin Investment Management LLC’s holdings in Chevron were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in Chevron during the 1st quarter valued at $566,000. Montchanin Asset Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $2,035,000. Heartland Bank & Trust Co lifted its position in shares of Chevron by 97.7% in the 1st quarter. Heartland Bank & Trust Co now owns 5,942 shares of the oil and gas company’s stock worth $937,000 after purchasing an additional 2,936 shares during the period. Advisory Resource Group boosted its stake in shares of Chevron by 12.5% during the first quarter. Advisory Resource Group now owns 4,476 shares of the oil and gas company’s stock valued at $706,000 after purchasing an additional 496 shares in the last quarter. Finally, CCM Investment Advisers LLC increased its holdings in Chevron by 0.4% during the first quarter. CCM Investment Advisers LLC now owns 68,163 shares of the oil and gas company’s stock valued at $10,752,000 after buying an additional 300 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. 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 note on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.56.

Chevron Stock Performance

Shares of NYSE CVX opened at $162.50 on Wednesday. The company has a 50 day simple moving average of $152.32 and a two-hundred day simple moving average of $152.49. The stock has a market cap of $292.03 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.54 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results 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. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 earnings per share. As a group, analysts predict that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.