Talbot Financial LLC Has $16.56 Million Holdings in Chevron Co. (NYSE:CVX)

Talbot Financial LLC grew its stake in Chevron Co. (NYSE:CVX) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,990 shares of the oil and gas company’s stock after acquiring an additional 4,522 shares during the quarter. Chevron accounts for 2.2% of Talbot Financial LLC’s holdings, making the stock its 11th biggest position. Talbot Financial LLC’s holdings in Chevron were worth $16,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CCG Wealth Management LLC acquired a new stake in Chevron during the 1st quarter worth approximately $1,023,000. Miracle Mile Advisors LLC increased its holdings in Chevron by 30.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 25,507 shares of the oil and gas company’s stock worth $4,023,000 after purchasing an additional 5,962 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in shares of Chevron by 1.7% in the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 9,429 shares of the oil and gas company’s stock valued at $1,487,000 after purchasing an additional 158 shares during the period. Kowal Investment Group LLC boosted its position in shares of Chevron by 45.3% during the first quarter. Kowal Investment Group LLC now owns 10,941 shares of the oil and gas company’s stock worth $1,726,000 after buying an additional 3,413 shares during the period. Finally, Horizon Wealth Management LLC grew its holdings in shares of Chevron by 395.5% during the first quarter. Horizon Wealth Management LLC now owns 12,735 shares of the oil and gas company’s stock worth $2,009,000 after buying an additional 10,165 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated 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 $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of 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 have sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $156.52 on Tuesday. 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 stock 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 Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a 50-day simple moving average of $159.22 and a two-hundred day simple moving average of $154.78.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.55 earnings per share. Analysts forecast that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued 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 was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.