Hexagon Capital Partners LLC Raises Position in Chevron Co. (NYSE:CVX)

Hexagon Capital Partners LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,754 shares of the oil and gas company’s stock after purchasing an additional 683 shares during the period. Chevron accounts for about 0.3% of Hexagon Capital Partners LLC’s portfolio, making the stock its 25th biggest position. Hexagon Capital Partners LLC’s holdings in Chevron were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CVX. Ariel Investments LLC bought a new position in shares of Chevron during the third quarter valued at approximately $1,654,000. Alps Advisors Inc. bought a new position in shares of Chevron during the third quarter valued at approximately $347,000. Evergreen Capital Management LLC grew its stake in shares of Chevron by 4.1% during the third quarter. Evergreen Capital Management LLC now owns 40,993 shares of the oil and gas company’s stock valued at $6,912,000 after buying an additional 1,605 shares during the last quarter. Ellerson Group Inc. ADV grew its stake in shares of Chevron by 14.6% during the third quarter. Ellerson Group Inc. ADV now owns 3,307 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 422 shares during the last quarter. Finally, Elevatus Welath Management grew its stake in shares of Chevron by 10.7% during the third quarter. Elevatus Welath Management now owns 2,791 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 270 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. Wells Fargo & Company increased their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Raymond James increased their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Trading Up 0.1 %

CVX opened at $156.52 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company’s 50 day simple moving average is $159.22 and its two-hundred day simple moving average is $154.78. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market capitalization of $288.46 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $3.55 EPS. 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. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred 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 sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is currently owned by company insiders.

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.