Chevron Co. (NYSE:CVX) Stake Raised by Benin Management CORP

Benin Management CORP increased its holdings in Chevron Co. (NYSE:CVX) by 12.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,051 shares of the oil and gas company’s stock after purchasing an additional 2,205 shares during the quarter. Chevron comprises about 1.0% of Benin Management CORP’s portfolio, making the stock its 17th biggest holding. Benin Management CORP’s holdings in Chevron were worth $3,163,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVX. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $33,000. Cooksen Wealth LLC bought a new stake in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its stake in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. 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. Truist Financial boosted their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Mizuho lifted 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Trading Up 0.3 %

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

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 EPS. As a group, equities research analysts forecast 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. Shareholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated 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 in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the director now 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 sold 19,546 shares of company stock valued at $3,176,223 in the last three months. Corporate insiders own 0.20% of the company’s stock.

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.