River Street Advisors LLC Increases Stake in Chevron Co. (NYSE:CVX)

River Street Advisors LLC increased its position in Chevron Co. (NYSE:CVX) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,719 shares of the oil and gas company’s stock after acquiring an additional 212 shares during the quarter. River Street Advisors LLC’s holdings in Chevron were worth $429,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Norges Bank purchased a new stake in Chevron in the 4th quarter worth about $2,902,007,000. Berkshire Hathaway Inc increased its position in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the period. Capital World Investors increased its position in shares of Chevron by 43.5% during the fourth 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 during the period. Massachusetts Financial Services Co. MA increased its position in shares of Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after buying an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of CVX opened at $156.42 on Monday. The firm 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 1.10. The stock has a 50 day simple moving average of $159.22 and a two-hundred day simple moving average of $154.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed 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 was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Mizuho upped their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Truist Financial boosted their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on 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 owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

About Chevron

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.