First Trust Direct Indexing L.P. Purchases 6,752 Shares of Chevron Co. (NYSE:CVX)

First Trust Direct Indexing L.P. boosted its position in shares of Chevron Co. (NYSE:CVX) by 18.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,628 shares of the oil and gas company’s stock after buying an additional 6,752 shares during the period. Chevron makes up approximately 0.5% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 28th largest position. First Trust Direct Indexing L.P.’s holdings in Chevron were worth $6,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the fourth quarter worth $30,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. Cooksen Wealth LLC bought a new position in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC grew its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the firm’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 transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Down 0.0 %

Chevron stock opened at $156.71 on Friday. 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 company has a market capitalization of $288.81 billion, a PE ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. The firm’s fifty day moving average is $158.68 and its 200 day moving average is $154.90. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the business earned $3.55 earnings per share. The business’s quarterly 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date 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 (DPR) is presently 59.98%.

Chevron Company 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.