Chevron Co. (NYSE:CVX) Shares Acquired by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 0.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,407 shares of the oil and gas company’s stock after acquiring an additional 65 shares during the period. Chevron accounts for 1.1% of Mayfair Advisory Group LLC’s investment portfolio, making the stock its 19th biggest holding. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in shares of Chevron during the 3rd quarter worth about $207,000. Ariel Investments LLC purchased a new position in Chevron during the third quarter worth approximately $1,654,000. Ameriprise Financial Inc. grew its holdings in Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Chevron in the third quarter valued at approximately $347,000. Finally, Alerus Financial NA increased its position in shares of Chevron by 76.9% during the third quarter. Alerus Financial NA now owns 96,173 shares of the oil and gas company’s stock valued at $16,217,000 after acquiring an additional 41,806 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $156.42 on Monday. The firm has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company’s 50-day moving average price is $159.22 and its 200 day moving average price is $154.78. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results 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. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $3.55 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the 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 sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Truist Financial lifted their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

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.