Nvest Financial LLC Increases Stake in Chevron Co. (NYSE:CVX)

Nvest Financial LLC increased its position in Chevron Co. (NYSE:CVX) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,338 shares of the oil and gas company’s stock after acquiring an additional 612 shares during the quarter. Chevron comprises 1.7% of Nvest Financial LLC’s investment portfolio, making the stock its 17th largest holding. Nvest Financial LLC’s holdings in Chevron were worth $2,577,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Bare Financial Services Inc bought a new stake in Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $33,000. Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC increased its stake in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was 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 of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was 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 of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Piper Sandler boosted 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 boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Trading Up 0.1 %

Shares of NYSE:CVX opened at $156.75 on Wednesday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The business’s fifty day simple moving average is $159.11 and its 200-day simple moving average is $154.82. The company has a market capitalization of $288.89 billion, a PE ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. 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 (NYSE:CVX) last posted its quarterly earnings data 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 firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.55 EPS. As a group, equities research analysts predict that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.