Chevron Co. (NYSE:CVX) Shares Sold by Buffington Mohr McNeal

Buffington Mohr McNeal cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,247 shares of the oil and gas company’s stock after selling 275 shares during the quarter. Buffington Mohr McNeal’s holdings in Chevron were worth $4,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Investment Group LLC grew its stake in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the fourth quarter worth $254,000. Kapstone Financial Advisors LLC raised its position in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares during the period. Lane & Associates LLC acquired a new position in Chevron during the first quarter valued at $345,000. Finally, Guyasuta Investment Advisors Inc. raised its position in Chevron by 1.7% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after buying an additional 3,603 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.1 %

NYSE:CVX opened at $156.75 on Wednesday. The stock’s fifty day simple moving average is $159.11 and its 200-day simple moving average is $154.82. 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 $288.89 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last posted 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’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 transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’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 completion of the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is available at this link. 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 owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Piper Sandler increased 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 raised their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.