Griffin Asset Management Inc. Sells 192 Shares of Chevron Co. (NYSE:CVX)

Griffin Asset Management Inc. lessened its position in shares of Chevron Co. (NYSE:CVX) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,789 shares of the oil and gas company’s stock after selling 192 shares during the quarter. Chevron comprises 1.4% of Griffin Asset Management Inc.’s holdings, making the stock its 19th biggest position. Griffin Asset Management Inc.’s holdings in Chevron were worth $11,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. Bare Financial Services Inc acquired a new position in Chevron during the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $30,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its position in 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 acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 in the company, valued at $44,184.84. 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 quarter. 0.20% of the stock is currently owned by insiders.

Chevron Trading Up 0.1 %

Shares of CVX stock opened at $156.42 on Friday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 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. The stock has a 50 day simple moving average of $159.22 and a 200-day simple moving average of $154.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.21% and a return on equity of 14.40%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $3.55 earnings per share. On average, equities research analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal 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 issued 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 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial raised their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Five 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

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.