Hennion & Walsh Asset Management Inc. Sells 830 Shares of Chevron Co. (NYSE:CVX)

Hennion & Walsh Asset Management Inc. reduced its position in Chevron Co. (NYSE:CVX) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,248 shares of the oil and gas company’s stock after selling 830 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Chevron were worth $7,137,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Chevron during the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc boosted its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors increased its position in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Chevron by 73,888.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after buying an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $156.42 on Friday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a fifty day moving average of $159.22 and a 200 day moving average of $154.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a market capitalization of $288.28 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company 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 business earned $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The company 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 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron 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 completion of the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,546 shares of company stock valued at $3,176,223. Corporate 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.