Chevron Co. (NYSE:CVX) Holdings Lowered by Appleton Partners Inc. MA

Appleton Partners Inc. MA reduced its holdings in Chevron Co. (NYSE:CVX) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,019 shares of the oil and gas company’s stock after selling 757 shares during the quarter. Appleton Partners Inc. MA’s holdings in Chevron were worth $792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bare Financial Services Inc purchased a new position in shares of Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth $30,000. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth $33,000. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC raised its stake in Chevron by 264.9% during 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 during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $153.32 on Wednesday. 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 has a market cap of $282.56 billion, a PE ratio of 14.10, a PEG ratio of 2.28 and a beta of 1.12. The company’s 50-day moving average is $159.61 and its two-hundred day moving average is $154.05.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $3.55 EPS. Equities analysts anticipate that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron’s dividend payout ratio is 59.98%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $3,176,223 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, 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 report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

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.