Chevron Co. (NYSE:CVX) Shares Acquired by Sunbelt Securities Inc.

Sunbelt Securities Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 12.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 34,318 shares of the oil and gas company’s stock after buying an additional 3,723 shares during the quarter. Sunbelt Securities Inc.’s holdings in Chevron were worth $5,413,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Eagle Wealth Strategies LLC lifted its holdings in shares of Chevron by 5.3% during the first quarter. Eagle Wealth Strategies LLC now owns 10,518 shares of the oil and gas company’s stock valued at $1,673,000 after purchasing an additional 528 shares during the last quarter. Constitution Capital LLC raised its holdings in Chevron by 32.0% during the 1st quarter. Constitution Capital LLC now owns 2,476 shares of the oil and gas company’s stock worth $391,000 after buying an additional 600 shares during the period. CIC Wealth LLC lifted its stake in Chevron by 3.0% during the first quarter. CIC Wealth LLC now owns 14,185 shares of the oil and gas company’s stock valued at $2,238,000 after buying an additional 411 shares in the last quarter. Financial Enhancement Group LLC acquired a new position in shares of Chevron in the first quarter worth about $204,000. Finally, Chemistry Wealth Management LLC increased its position in shares of Chevron by 4.3% in the first quarter. Chemistry Wealth Management LLC now owns 3,535 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction 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 owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction 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 sale, 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 can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by insiders.

Chevron Price Performance

NYSE CVX opened at $156.36 on Friday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock’s 50-day moving average is $159.32 and its two-hundred day moving average is $154.52. The firm has a market cap of $288.17 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 EPS. On average, analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors 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 yield of 4.17%. Chevron’s payout ratio is presently 59.98%.

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.