St. Johns Investment Management Company LLC Boosts Position in Chevron Co. (NYSE:CVX)

St. Johns Investment Management Company LLC boosted its stake in Chevron Co. (NYSE:CVX) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,836 shares of the oil and gas company’s stock after buying an additional 1,342 shares during the period. St. Johns Investment Management Company LLC’s holdings in Chevron were worth $1,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new stake in Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $33,000. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CVX. Scotiabank upgraded 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 report on Thursday, April 11th. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen boosted their price target 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. Finally, Mizuho boosted their price target 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Performance

Shares of CVX opened at $156.00 on Thursday. The company has a market capitalization of $287.50 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a 50 day moving average price of $159.33 and a 200 day moving average price of $154.51. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 14.40% and a net margin of 10.21%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.55 earnings per share. Research analysts predict that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s 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 sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by company insiders.

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.