Baker Ellis Asset Management LLC Has $1.35 Million Holdings in Chevron Co. (NYSE:CVX)

Baker Ellis Asset Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 8,584 shares of the oil and gas company’s stock after selling 95 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Chevron were worth $1,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Investment Group LLC grew its position in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC grew its position in shares of Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares during the period. Lane & Associates LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $345,000. Finally, Guyasuta Investment Advisors Inc. grew its position in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after purchasing an additional 3,603 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

NYSE CVX opened at $156.42 on Friday. The stock has a market capitalization of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. 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 business’s fifty day moving average is $159.22 and its 200-day moving average is $154.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the business posted $3.55 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Raymond James lifted their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. 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. TD Cowen lifted their price target 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. Finally, Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. 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. Company insiders own 0.20% of the company’s stock.

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.