Mather Group LLC. Sells 3,701 Shares of Chevron Co. (NYSE:CVX)

Mather Group LLC. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,992 shares of the oil and gas company’s stock after selling 3,701 shares during the period. Mather Group LLC.’s holdings in Chevron were worth $3,280,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rowlandmiller & PARTNERS.ADV grew its position in shares of Chevron by 0.7% during the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 46,529 shares of the oil and gas company’s stock worth $7,339,000 after buying an additional 330 shares during the period. Emprise Bank acquired a new stake in Chevron in the first quarter worth $656,000. Bath Savings Trust Co increased its stake in Chevron by 6.3% in the first quarter. Bath Savings Trust Co now owns 28,680 shares of the oil and gas company’s stock valued at $4,524,000 after purchasing an additional 1,705 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in shares of Chevron by 3.6% during the first quarter. Beese Fulmer Investment Management Inc. now owns 97,291 shares of the oil and gas company’s stock valued at $15,347,000 after purchasing an additional 3,417 shares during the period. Finally, Chickasaw Capital Management LLC boosted its position in shares of Chevron by 9.7% during the 1st quarter. Chickasaw Capital Management LLC now owns 7,174 shares of the oil and gas company’s stock worth $1,132,000 after purchasing an additional 637 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $156.65 on Friday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a 50-day moving average of $159.32 and a 200 day moving average of $154.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a market cap of $288.70 billion, a P/E ratio of 14.41, a PEG ratio of 2.28 and a beta of 1.12.

Chevron (NYSE:CVX) last released its 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. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm earned $3.55 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock valued at $3,176,223 over the last three months. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the stock 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 company a “hold” rating in a research note on Monday, April 29th. Finally, UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average 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.