Hengehold Capital Management LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Hengehold Capital Management LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,289 shares of the oil and gas company’s stock after selling 258 shares during the quarter. Hengehold Capital Management LLC’s holdings in Chevron were worth $4,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Renaissance Investment Group LLC grew its holdings in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the period. Camelot Portfolios LLC bought a new stake in Chevron during the fourth quarter valued at about $254,000. Kapstone Financial Advisors LLC grew its holdings in 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 valued at $626,000 after purchasing an additional 211 shares during the period. Lane & Associates LLC bought a new stake in Chevron during the first quarter valued at about $345,000. Finally, Guyasuta Investment Advisors Inc. grew its holdings 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 purchasing an additional 3,603 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

CVX stock traded up $0.43 during midday trading on Friday, reaching $156.75. 4,021,612 shares of the company traded hands, compared to its average volume of 8,022,711. Chevron Co. has a 52-week low of $139.62 and a 52-week 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 business has a 50 day moving average of $159.32 and a 200-day moving average of $154.52. The firm has a market capitalization of $288.88 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the business posted $3.55 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid 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 dividend yield of 4.16%. Chevron’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, Truist Financial boosted their price objective 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s 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 transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. 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 value of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by insiders.

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.