Chevron Co. (NYSE:CVX) Shares Purchased by ERn Financial LLC

ERn Financial LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,655 shares of the oil and gas company’s stock after purchasing an additional 71 shares during the period. ERn Financial LLC’s holdings in Chevron were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth about $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $33,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the 4th 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 in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $3,176,223 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. TD Cowen boosted 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. Wells Fargo & Company increased their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Five equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Trading Up 0.2 %

Shares of CVX stock traded up $0.37 on Thursday, hitting $156.32. 5,544,862 shares of the stock traded hands, compared to its average volume of 8,057,126. 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 twelve month low of $139.62 and a twelve month high of $171.70. The firm’s 50-day moving average price is $159.32 and its two-hundred day moving average price is $154.52. The stock has a market capitalization of $288.09 billion, a PE ratio of 14.37, a PEG ratio of 2.41 and a beta of 1.12.

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 the consensus estimate 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 net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.55 EPS. As a group, analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 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.