Bontempo Ohly Capital Mgmt LLC Has $2.34 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Bontempo Ohly Capital Mgmt LLC reduced its stake in Chevron Co. (NYSE:CVX) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,182 shares of the oil and gas company’s stock after selling 284 shares during the period. Chevron accounts for approximately 1.1% of Bontempo Ohly Capital Mgmt LLC’s investment portfolio, making the stock its 24th biggest position. Bontempo Ohly Capital Mgmt LLC’s holdings in Chevron were worth $2,344,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVX. Geode Capital Management LLC raised its holdings in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Norges Bank acquired a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp boosted its stake in Chevron by 7.3% in 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 during the period. Finally, Fisher Asset Management LLC grew its holdings in Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVX. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Finally, UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.75.

Chevron Price Performance

Shares of NYSE:CVX opened at $135.48 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $238.53 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.46 and a beta of 0.83. The firm has a 50 day simple moving average of $149.37 and a 200 day simple moving average of $152.46.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 5.05%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.