Chevron Co. (NYSE:CVX) Shares Acquired by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,206 shares of the oil and gas company’s stock after buying an additional 139 shares during the period. Spinnaker Investment Group LLC’s holdings in Chevron were worth $348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tempus Wealth Planning LLC boosted its position in Chevron by 2.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 3,064 shares of the oil and gas company’s stock valued at $483,000 after buying an additional 80 shares during the last quarter. Core Wealth Partners LLC boosted its position in Chevron by 1.8% in the 1st quarter. Core Wealth Partners LLC now owns 6,928 shares of the oil and gas company’s stock valued at $1,093,000 after buying an additional 122 shares during the last quarter. Accel Wealth Management boosted its position in Chevron by 7.1% in the 1st quarter. Accel Wealth Management now owns 6,735 shares of the oil and gas company’s stock valued at $1,062,000 after buying an additional 447 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in Chevron by 1.8% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 6,383 shares of the oil and gas company’s stock valued at $1,007,000 after buying an additional 112 shares during the last quarter. Finally, Uncommon Cents Investing LLC boosted its position in Chevron by 5.1% in the 1st quarter. Uncommon Cents Investing LLC now owns 13,271 shares of the oil and gas company’s stock valued at $2,093,000 after buying an additional 640 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Mizuho increased 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. Finally, Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Trading Down 0.0 %

Shares of NYSE:CVX opened at $156.71 on Friday. The stock has a market capitalization of $288.81 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a 50 day moving average price of $158.68 and a 200 day moving average price of $154.90.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The company’s revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. 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 payout ratio is 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the 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 in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the 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 in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, 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. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Chevron Profile

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.