NBC Securities Inc. Raises Stock Holdings in Chevron Co. (NYSE:CVX)

NBC Securities Inc. increased its stake in Chevron Co. (NYSE:CVX) by 2.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 39,300 shares of the oil and gas company’s stock after buying an additional 760 shares during the quarter. Chevron accounts for approximately 0.6% of NBC Securities Inc.’s portfolio, making the stock its 23rd largest holding. NBC Securities Inc.’s holdings in Chevron were worth $6,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Loomis Sayles & Co. L P increased its stake in shares of Chevron by 10.3% in the third quarter. Loomis Sayles & Co. L P now owns 2,381 shares of the oil and gas company’s stock worth $401,000 after purchasing an additional 223 shares in the last quarter. Interchange Capital Partners LLC grew its stake in Chevron by 11.5% in the 3rd quarter. Interchange Capital Partners LLC now owns 2,579 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 267 shares in the last quarter. Rathbones Group PLC raised its holdings in Chevron by 16.1% during the 3rd quarter. Rathbones Group PLC now owns 268,401 shares of the oil and gas company’s stock valued at $45,258,000 after acquiring an additional 37,315 shares during the period. V Square Quantitative Management LLC raised its holdings in Chevron by 28.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,344 shares of the oil and gas company’s stock valued at $901,000 after acquiring an additional 1,168 shares during the period. Finally, Provence Wealth Management Group lifted its position in shares of Chevron by 12.8% during the third quarter. Provence Wealth Management Group now owns 3,987 shares of the oil and gas company’s stock worth $672,000 after acquiring an additional 452 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last 90 days. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

CVX opened at $153.33 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $282.58 billion, a P/E ratio of 14.11, a PEG ratio of 2.28 and a beta of 1.12. The stock has a 50-day moving average price of $159.43 and a 200-day moving average price of $154.04. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last issued its 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. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.55 earnings per share. Equities analysts predict that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Piper Sandler upped 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. Truist Financial raised their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron 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.