Financial Perspectives Inc Sells 70 Shares of Chevron Co. (NYSE:CVX)

Financial Perspectives Inc lessened its position in shares of Chevron Co. (NYSE:CVX) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,084 shares of the oil and gas company’s stock after selling 70 shares during the period. Financial Perspectives Inc’s holdings in Chevron were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pacifica Partners Inc. boosted its holdings in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Ellenbecker Investment Group increased its stake in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares during the last quarter. Mayfair Advisory Group LLC increased its position in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after purchasing an additional 65 shares during the last quarter. Penbrook Management LLC grew its stake in Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after buying an additional 65 shares in the last quarter. Finally, Verum Partners LLC increased its stake in Chevron by 3.0% in the first quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. 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 target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Truist Financial lifted their target price 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. Finally, TD Cowen boosted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

Chevron stock opened at $156.71 on Friday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $288.81 billion, a P/E ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. The stock’s 50 day moving average is $158.68 and its 200 day moving average is $154.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $48.42 billion. During the same quarter in the previous year, the firm earned $3.55 EPS. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend 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 currently 59.98%.

Insider Buying and Selling

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 in the last three months. Insiders own 0.20% of the company’s stock.

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.