Grimes & Company Inc. Increases Stake in Chevron Co. (NYSE:CVX)

Grimes & Company Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,532 shares of the oil and gas company’s stock after purchasing an additional 2,022 shares during the period. Grimes & Company Inc.’s holdings in Chevron were worth $8,760,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. WoodTrust Financial Corp increased its stake in Chevron by 8.4% in the 1st quarter. WoodTrust Financial Corp now owns 40,054 shares of the oil and gas company’s stock worth $6,319,000 after purchasing an additional 3,108 shares during the period. MCF Advisors LLC increased its stake in shares of Chevron by 0.7% during the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock valued at $1,489,000 after buying an additional 66 shares during the period. Opinicus Capital Inc. increased its stake in shares of Chevron by 44.0% during the first quarter. Opinicus Capital Inc. now owns 6,207 shares of the oil and gas company’s stock valued at $979,000 after buying an additional 1,896 shares during the period. Trifecta Capital Advisors LLC increased its stake in shares of Chevron by 9.9% during the first quarter. Trifecta Capital Advisors LLC now owns 24,442 shares of the oil and gas company’s stock valued at $3,856,000 after buying an additional 2,210 shares during the period. Finally, Weaver Consulting Group increased its stake in shares of Chevron by 1.2% during the first quarter. Weaver Consulting Group now owns 5,838 shares of the oil and gas company’s stock valued at $921,000 after buying an additional 71 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho boosted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” 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, Scotiabank upgraded 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 report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Trading Up 0.1 %

NYSE CVX opened at $156.42 on Friday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a market cap of $288.28 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. The stock’s fifty day moving average price is $159.22 and its 200-day moving average price is $154.71. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping 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 firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the firm posted $3.55 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were 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 in the company, valued at $44,184.84. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. 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.