Chevron Co. (NYSE:CVX) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 23.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,541 shares of the oil and gas company’s stock after selling 6,934 shares during the period. FDx Advisors Inc.’s holdings in Chevron were worth $3,556,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Capital Advisory LLC boosted its stake in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new position in Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $33,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded up $0.22 during trading on Thursday, reaching $155.35. The company’s stock had a trading volume of 3,705,419 shares, compared to its average volume of 7,909,071. The business’s 50-day moving average price is $157.96 and its 200-day moving average price is $155.03. The firm has a market cap of $286.31 billion, a PE ratio of 14.34, a P/E/G ratio of 2.34 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.55 earnings per share. Equities analysts forecast that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was 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 of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVX shares. Barclays assumed coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.