Chevron Co. (NYSE:CVX) Shares Purchased by First Bancorp Inc ME

First Bancorp Inc ME raised its stake in Chevron Co. (NYSE:CVX) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,638 shares of the oil and gas company’s stock after purchasing an additional 236 shares during the period. First Bancorp Inc ME’s holdings in Chevron were worth $258,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVX. Bare Financial Services Inc purchased a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $33,000. Cooksen Wealth LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC grew its position in shares of Chevron by 264.9% during the fourth 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was 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 in the company, valued at approximately $4,581,279. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $3,176,223 in the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Piper Sandler lifted 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. Raymond James boosted their target price 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. TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, Truist Financial upped 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. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Down 1.4 %

Shares of NYSE CVX traded down $2.18 during mid-day trading on Wednesday, reaching $156.28. 6,089,660 shares of the company traded hands, compared to its average volume of 8,056,833. 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 stock has a market cap of $288.02 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The company’s fifty day moving average is $159.33 and its two-hundred day moving average is $154.51. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.55 EPS. On average, 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 dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.