Aviance Capital Partners LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Aviance Capital Partners LLC raised its holdings in Chevron Co. (NYSE:CVX) by 151.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,965 shares of the oil and gas company’s stock after buying an additional 7,800 shares during the period. Aviance Capital Partners LLC’s holdings in Chevron were worth $2,045,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CVX. Pacifica Partners Inc. raised its stake in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares in the last quarter. Ellenbecker Investment Group increased its stake in 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 buying an additional 65 shares during the period. Mayfair Advisory Group LLC raised its position in shares of Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Chevron by 0.7% in the 1st quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock worth $1,489,000 after acquiring an additional 66 shares during the period. Finally, Octavia Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Trading Up 0.1 %

NYSE CVX opened at $156.52 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s fifty day simple moving average is $159.22 and its 200-day simple moving average is $154.78. The company has a market capitalization of $288.46 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.55 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal 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 paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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, 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 directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock valued at $2,727,971 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

About Chevron

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.