New Hampshire Trust Sells 450 Shares of Chevron Co. (NYSE:CVX)

New Hampshire Trust lessened its position in shares of Chevron Co. (NYSE:CVX) by 3.2% in the first quarter, HoldingsChannel.com reports. The firm owned 13,421 shares of the oil and gas company’s stock after selling 450 shares during the quarter. New Hampshire Trust’s holdings in Chevron were worth $2,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its position 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 period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 2.2 %

Shares of Chevron stock opened at $156.65 on Friday. 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 stock has a market capitalization of $288.70 billion, a P/E ratio of 14.41, a P/E/G ratio of 2.28 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock’s 50-day simple moving average is $159.32 and its 200 day simple moving average is $154.06.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS 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 company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. Chevron’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 13.45 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Truist Financial raised their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was 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 approximately $416,761.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was 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 in the company, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, 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. In the last three months, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by company insiders.

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.