Lane & Associates LLC Makes New $345,000 Investment in Chevron Co. (NYSE:CVX)

Lane & Associates LLC purchased a new position in Chevron Co. (NYSE:CVX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,185 shares of the oil and gas company’s stock, valued at approximately $345,000.

Several other institutional investors have also added to or reduced their stakes in CVX. Bare Financial Services Inc purchased a new position in shares of Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Cooksen Wealth LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX traded up $3.57 during mid-day trading on Monday, hitting $158.85. 3,041,789 shares of the company’s stock were exchanged, compared to its average volume of 8,048,813. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a market capitalization of $292.76 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.33 and a beta of 1.12. The business’s 50 day moving average is $159.25 and its two-hundred day moving average is $154.30. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.55 earnings per share. On average, equities analysts expect 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 issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the 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 completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred 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 directly owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company upped their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, Piper Sandler upped 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.