Chevron Co. (NYSE:CVX) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,774 shares of the oil and gas company’s stock after selling 257 shares during the quarter. Red Spruce Capital LLC’s holdings in Chevron were worth $1,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Ellenbecker Investment Group increased its position in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the period. Octavia Wealth Advisors LLC grew its holdings in Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the period. Investment Partners LTD. raised its position in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares in the last quarter. Certified Advisory Corp lifted its holdings in Chevron by 0.4% in the 4th quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after acquiring an additional 68 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its position in shares of Chevron by 2.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 69 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CVX shares. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on 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 $44,184.84. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.9 %

Chevron stock opened at $155.28 on Friday. Chevron Co. has a 12 month low of $139.62 and a 12 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 stock has a market cap of $286.18 billion, a P/E ratio of 14.29, a P/E/G ratio of 2.33 and a beta of 1.12. The company’s fifty day simple moving average is $159.25 and its 200-day simple moving average is $154.21.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.55 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 4.20%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) 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.