JB Capital LLC cut its stake in Chevron Co. (NYSE:CVX – Get Rating) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,128 shares of the oil and gas company’s stock after selling 423 shares during the quarter. JB Capital LLC’s holdings in Chevron were worth $1,161,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CVX. Clarity Financial LLC grew its stake in Chevron by 2.2% in the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 61 shares in the last quarter. LCM Capital Management Inc grew its stake in Chevron by 0.9% in the first quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock worth $1,190,000 after purchasing an additional 63 shares in the last quarter. Advocacy Wealth Management Services LLC grew its stake in Chevron by 30.7% in the first quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 69 shares in the last quarter. Evanson Asset Management LLC grew its stake in Chevron by 0.4% in the first quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company’s stock worth $2,661,000 after purchasing an additional 70 shares in the last quarter. Finally, Red Spruce Capital LLC grew its stake in Chevron by 1.0% in the first quarter. Red Spruce Capital LLC now owns 7,213 shares of the oil and gas company’s stock worth $1,174,000 after purchasing an additional 71 shares in the last quarter. 65.89% of the stock is currently owned by institutional investors.
Chevron stock opened at $146.51 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The firm has a market cap of $287.86 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.63 and a beta of 1.09. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40. The firm’s 50 day moving average price is $164.13 and its two-hundred day moving average price is $151.10.
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). The business had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. As a group, equities analysts predict that Chevron Co. will post 17.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $1.42 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.88%. Chevron’s dividend payout ratio (DPR) is 53.38%.
In other Chevron news, Director Enrique Hernandez, Jr. sold 5,805 shares of Chevron stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the director now directly owns 22,978 shares in the company, valued at approximately $3,676,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now owns 3,543 shares in the company, valued at $628,138.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,726 shares of company stock worth $94,057,396. 0.32% of the stock is currently owned by company insiders.
CVX has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. Cowen decreased their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial decreased their target price on Chevron from $181.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, June 28th. Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. Finally, Cowen decreased their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.24.
Chevron Company Profile: (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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