Saxon Interests Inc. Has $2.89 Million Stock Position in Chevron Co. (NYSE:CVX)

Saxon Interests Inc. raised its stake in Chevron Co. (NYSE:CVX) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,340 shares of the oil and gas company’s stock after buying an additional 1,807 shares during the quarter. Chevron comprises approximately 1.4% of Saxon Interests Inc.’s investment portfolio, making the stock its 14th biggest holding. Saxon Interests Inc.’s holdings in Chevron were worth $2,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. acquired a new stake in shares of Chevron in the third quarter valued at approximately $347,000. KPP Advisory Services LLC acquired a new stake in Chevron in the 3rd quarter valued at $632,000. Kelly Lawrence W & Associates Inc. CA boosted its stake in shares of Chevron by 0.6% during the 3rd quarter. Kelly Lawrence W & Associates Inc. CA now owns 21,257 shares of the oil and gas company’s stock worth $3,584,000 after buying an additional 124 shares during the last quarter. KADENSA CAPITAL Ltd bought a new position in shares of Chevron in the 3rd quarter valued at about $13,956,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Chevron in the third quarter valued at about $1,826,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’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 completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was 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 in the company, valued at $1,231,167. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’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 transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock valued at $2,727,971 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $156.75 on Wednesday. The stock’s fifty day moving average price is $159.11 and its two-hundred day moving average price is $154.82. The firm has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a one year low of $139.62 and a one 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.

Chevron (NYSE:CVX) last released its quarterly 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. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $3.55 earnings per share. On average, equities analysts forecast that Chevron Co. will post 13.15 EPS for the current 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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

Several research analysts recently commented on CVX shares. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. TD Cowen increased their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.95.

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.