Proficio Capital Partners LLC Buys 324 Shares of Chevron Co. (NYSE:CVX)

Proficio Capital Partners LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,626 shares of the oil and gas company’s stock after purchasing an additional 324 shares during the period. Proficio Capital Partners LLC’s holdings in Chevron were worth $1,203,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CVX. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Chevron during the third quarter worth about $293,000. Invst LLC boosted its stake in Chevron by 8.1% during the third quarter. Invst LLC now owns 1,552 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 116 shares in the last quarter. Quantum Financial Advisors LLC boosted its stake in Chevron by 66.2% during the third quarter. Quantum Financial Advisors LLC now owns 4,208 shares of the oil and gas company’s stock worth $709,000 after acquiring an additional 1,676 shares in the last quarter. Fidelity D & D Bancorp Inc. bought a new position in shares of Chevron in the third quarter worth approximately $877,000. Finally, Wellington Management Group LLP lifted its stake in shares of Chevron by 13.2% in the third quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock worth $612,164,000 after buying an additional 423,863 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $0.77 during midday trading on Wednesday, reaching $153.75. 885,913 shares of the company’s stock traded hands, compared to its average volume of 7,905,744. The stock’s 50-day moving average is $158.04 and its 200 day moving average is $155.03. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market cap of $283.36 billion, a P/E ratio of 14.07, a PEG ratio of 2.34 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping 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 company’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. As a group, analysts anticipate that Chevron Co. will post 13.18 EPS for the current year.

Chevron Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.24%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of 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 SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on 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 owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock valued at $2,727,971 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVX shares. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company upped their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron 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.