Summit Financial Group Inc. Sells 100 Shares of Chevron Co. (NYSE:CVX)

Summit Financial Group Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,692 shares of the oil and gas company’s stock after selling 100 shares during the period. Summit Financial Group Inc.’s holdings in Chevron were worth $1,844,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Bare Financial Services Inc bought a new stake in Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC bought a new position in Chevron in the 4th quarter valued at $33,000. Cooksen Wealth LLC acquired a new position in Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC grew its holdings in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on 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 directly owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was 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 directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.1 %

NYSE CVX opened at $153.33 on Thursday. 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 firm has a market cap of $282.58 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.28 and a beta of 1.12. The stock’s 50-day moving average is $159.43 and its 200-day moving average is $154.04.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for 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%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $3.55 EPS. Sell-side analysts anticipate that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.