Gallacher Capital Management LLC Sells 365 Shares of Chevron Co. (NYSE:CVX)

Gallacher Capital Management LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 20.8% during the first quarter, HoldingsChannel reports. The fund owned 1,390 shares of the oil and gas company’s stock after selling 365 shares during the quarter. Gallacher Capital Management LLC’s holdings in Chevron were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CVX. Renaissance Investment Group LLC lifted its holdings in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the period. Camelot Portfolios LLC bought a new stake in shares of Chevron in the 4th quarter valued at approximately $254,000. Kapstone Financial Advisors LLC lifted its position in shares of Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares during the period. Eagle Capital Management LLC lifted its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Finally, Lane & Associates LLC acquired a new position in Chevron during the first quarter worth $345,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.1 %

Shares of Chevron stock traded up $0.10 during trading on Friday, hitting $155.36. 2,114,141 shares of the company were exchanged, compared to its average volume of 7,900,220. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a market capitalization of $286.32 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. The firm’s fifty day moving average price is $157.85 and its 200 day moving average price is $155.03. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.55 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was 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 directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was 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 of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,746 shares of company stock valued at $2,727,971. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.89.

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.