Romano Brothers AND Company Increases Holdings in Chevron Co. (NYSE:CVX)

Romano Brothers AND Company lifted its position in shares of Chevron Co. (NYSE:CVX) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,966 shares of the oil and gas company’s stock after acquiring an additional 983 shares during the quarter. Romano Brothers AND Company’s holdings in Chevron were worth $1,888,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVX. Bare Financial Services Inc purchased a new stake in Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $33,000. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

CVX stock opened at $156.42 on Friday. The company has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.12. 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 business has a fifty day simple moving average of $159.22 and a 200-day simple moving average of $154.71. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, HSBC boosted their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock worth $3,176,223. Corporate insiders own 0.20% of the company’s stock.

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.