Chevron Co. (NYSE:CVX) Shares Bought by E&G Advisors LP

E&G Advisors LP grew its stake in shares of Chevron Co. (NYSE:CVX) by 5.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,904 shares of the oil and gas company’s stock after acquiring an additional 373 shares during the period. E&G Advisors LP’s holdings in Chevron were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC raised its stake in Chevron by 264.9% during the 4th 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 during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated 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 owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 completion of the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX stock opened at $156.75 on Thursday. 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 52-week low of $139.62 and a 52-week high of $171.70. The company has a 50-day moving average of $158.99 and a two-hundred day moving average of $154.88. The stock has a market capitalization of $288.89 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial upped their price target on shares of 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 shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. 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, the stock presently has a consensus 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.