Park Place Capital Corp Has $1.27 Million Holdings in Chevron Co. (NYSE:CVX)

Park Place Capital Corp trimmed its position in shares of Chevron Co. (NYSE:CVX) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,037 shares of the oil and gas company’s stock after selling 1,624 shares during the period. Park Place Capital Corp’s holdings in Chevron were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its holdings in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Ellenbecker Investment Group grew its stake in Chevron by 1.5% in 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 last quarter. Mayfair Advisory Group LLC grew its stake in Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the last quarter. MCF Advisors LLC raised its holdings in Chevron by 0.7% in the 1st quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock valued at $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% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.1 %

Shares of CVX stock opened at $156.52 on Tuesday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The stock’s fifty day simple moving average is $159.22 and its 200 day simple moving average is $154.78. 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 firm has a market capitalization of $288.46 billion, a P/E ratio of 14.40, a P/E/G ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Mizuho raised 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. Truist Financial lifted their price target 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. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,746 shares of company stock valued at $2,727,971. Company 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.