Renaissance Investment Group LLC Has $549,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Renaissance Investment Group LLC cut its holdings in Chevron Co. (NYSE:CVX) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,791 shares of the oil and gas company’s stock after selling 86 shares during the quarter. Renaissance Investment Group LLC’s holdings in Chevron were worth $549,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of 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 SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Raymond James upped their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

Shares of CVX opened at $161.54 on Monday. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a 50 day moving average of $153.93 and a 200-day moving average of $151.05.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate 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 return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.05 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

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.