Tributary Capital Management LLC Takes $77,000 Position in Chevron Co. (NYSE:CVX)

Tributary Capital Management LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the first quarter, Holdings Channel.com reports. The firm acquired 490 shares of the oil and gas company’s stock, valued at approximately $77,000.

Other large investors also recently modified their holdings of the company. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC raised its stake in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.1 %

Shares of NYSE CVX opened at $156.75 on Wednesday. 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 Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm’s fifty day moving average is $159.11 and its 200 day moving average is $154.82. The company has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10.

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

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVX shares. Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,746 shares of company stock worth $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Chevron Company 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.