Brighton Jones LLC Purchases 765 Shares of Chevron Co. (NYSE:CVX)

Brighton Jones LLC grew its position in Chevron Co. (NYSE:CVX) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,091 shares of the oil and gas company’s stock after acquiring an additional 765 shares during the period. Brighton Jones LLC’s holdings in Chevron were worth $3,642,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. American Capital Advisory LLC boosted its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Bare Financial Services Inc acquired a new position in Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter valued at about $30,000. Cooksen Wealth LLC bought a new position in Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.7 %

NYSE:CVX traded down $2.82 on Friday, reaching $159.15. 6,321,330 shares of the stock traded hands, compared to its average volume of 7,883,190. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company’s 50 day moving average is $157.34 and its 200-day moving average is $155.38. The firm has a market capitalization of $293.31 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company 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%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.55 earnings per share. Equities research analysts anticipate that Chevron Co. will post 12.6 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Insider Activity

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the 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 transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Barclays started 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. Raymond James lifted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.22.

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.