Benin Management CORP Increases Stake in Chevron Co. (NYSE:CVX)

Benin Management CORP boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 12.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,051 shares of the oil and gas company’s stock after buying an additional 2,205 shares during the quarter. Chevron accounts for 1.0% of Benin Management CORP’s investment portfolio, making the stock its 17th largest position. Benin Management CORP’s holdings in Chevron were worth $3,163,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bare Financial Services Inc purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $33,000. Cooksen Wealth LLC acquired a new position in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC increased its holdings in shares of 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 acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Truist Financial increased their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Up 0.3 %

CVX stock opened at $156.36 on Friday. 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 quick ratio of 0.93 and a current ratio of 1.23. The company has a fifty day moving average of $159.32 and a 200-day moving average of $154.52. The stock has a market capitalization of $288.17 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for 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%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.55 EPS. As a group, analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was 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 approximately $4,581,279. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by company insiders.

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.