Guinness Atkinson Asset Management Inc Sells 294 Shares of Chevron Co. (NYSE:CVX)

Guinness Atkinson Asset Management Inc trimmed its holdings in Chevron Co. (NYSE:CVX) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,288 shares of the oil and gas company’s stock after selling 294 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Chevron were worth $519,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new position in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth $30,000. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth $33,000. Cooksen Wealth LLC purchased a new position in shares of Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $159.28 on Tuesday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a market cap of $293.55 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. 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 company’s fifty day moving average price is $159.28 and its 200-day moving average price is $154.41.

Chevron (NYSE:CVX) last announced 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. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the business posted $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.15 EPS 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 paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company 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 company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Buying and Selling

In related 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 value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. 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 quarter. Corporate insiders own 0.20% of the company’s stock.

Chevron Company 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.