Chevron Co. (NYSE:CVX) Shares Sold by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 30.8% in the first quarter, HoldingsChannel reports. The firm owned 900 shares of the oil and gas company’s stock after selling 400 shares during the period. Disciplined Equity Management Inc.’s holdings in Chevron were worth $142,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Chevron during the 3rd quarter worth $293,000. Wellington Management Group LLP increased its stake in Chevron by 13.2% in the third quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock valued at $612,164,000 after acquiring an additional 423,863 shares during the period. Fragasso Group Inc. acquired a new position in shares of Chevron in the 3rd quarter worth approximately $210,000. VisionPoint Advisory Group LLC grew its holdings in shares of Chevron by 46.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 489 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 154 shares during the last quarter. Finally, Financial Insights Inc. acquired a new stake in shares of Chevron during the third quarter worth approximately $484,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $0.12 during midday trading on Thursday, reaching $155.25. The company had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. 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 current ratio of 1.23 and a quick ratio of 0.93. The firm has a 50-day moving average price of $157.96 and a 200-day moving average price of $155.03. The company has a market capitalization of $286.12 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the business earned $3.55 EPS. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. TD Cowen increased 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Truist Financial raised their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s 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 directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is accessible through 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 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. Over the last three months, insiders have sold 16,746 shares of company stock valued at $2,727,971. Insiders own 0.20% of the company’s stock.

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.