Newbridge Financial Services Group Inc. Sells 274 Shares of Chevron Co. (NYSE:CVX)

Newbridge Financial Services Group Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,273 shares of the oil and gas company’s stock after selling 274 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Chevron were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted 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 acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Mizuho raised their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Truist Financial raised their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Finally, Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction 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 directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Chevron stock opened at $153.32 on Wednesday. The firm has a market cap of $282.56 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.28 and a beta of 1.12. 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. The stock’s 50 day moving average is $159.61 and its 200 day moving average is $154.05.

Chevron (NYSE:CVX) last announced its earnings results 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 business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.55 earnings per share. As a group, research analysts expect that Chevron Co. will post 13.45 EPS for the current year.

Chevron Dividend Announcement

The firm 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 dividend yield of 4.25%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.