Dixon Mitchell Investment Counsel Inc. Takes Position in Chevron Co. (NYSE:CVX)

Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 351 shares of the oil and gas company’s stock, valued at approximately $55,000.

Several other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new position in Chevron during the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at $33,000. Cooksen Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC grew its stake in shares of 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 purchasing an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of NYSE:CVX opened at $156.75 on Wednesday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. 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 market cap of $288.89 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. The firm has a fifty day moving average price of $159.11 and a 200 day moving average price of $154.82.

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 analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during 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 revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.55 EPS. Sell-side analysts predict that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on 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 directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s 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 sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. 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. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target 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.