Calton & Associates Inc. Sells 2,741 Shares of Chevron Co. (NYSE:CVX)

Calton & Associates Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 23.3% during the first quarter, Holdings Channel reports. The fund owned 9,007 shares of the oil and gas company’s stock after selling 2,741 shares during the period. Calton & Associates Inc.’s holdings in Chevron were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Caxton Associates LP acquired a new position in Chevron in the 3rd quarter valued at $207,000. United Services Automobile Association grew its holdings in shares of Chevron by 13.9% during the 3rd quarter. United Services Automobile Association now owns 48,859 shares of the oil and gas company’s stock worth $8,239,000 after purchasing an additional 5,968 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Chevron by 6.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 7,855 shares of the oil and gas company’s stock worth $1,325,000 after purchasing an additional 445 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Chevron by 7.6% during the 3rd quarter. Lazard Asset Management LLC now owns 5,182,317 shares of the oil and gas company’s stock worth $873,841,000 after purchasing an additional 364,969 shares in the last quarter. Finally, Kidder Stephen W grew its holdings in shares of Chevron by 10.9% during the 3rd quarter. Kidder Stephen W now owns 30,892 shares of the oil and gas company’s stock worth $5,209,000 after purchasing an additional 3,046 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. 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 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 value of $600,862.50. Following the transaction, the vice president now 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 worth $3,176,223 over the last ninety days. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CVX. Piper Sandler increased 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. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. UBS Group increased 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. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Price Performance

Chevron stock opened at $156.42 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a 50-day moving average price of $159.22 and a two-hundred day moving average price of $154.62.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 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.