First Bancorp Inc ME Purchases 236 Shares of Chevron Co. (NYSE:CVX)

First Bancorp Inc ME boosted its position in Chevron Co. (NYSE:CVX) by 16.8% during the first quarter, according to the company in 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 acquiring an additional 236 shares during the quarter. First Bancorp Inc ME’s holdings in Chevron were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bare Financial Services Inc bought a new position in Chevron in the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron in the fourth quarter valued at $30,000. Valued Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at $33,000. Cooksen Wealth LLC bought a new position in Chevron in the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVX shares. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Truist Financial upped their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on 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 owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was 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 $45,540. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 1.4 %

Chevron stock traded down $2.18 during trading hours on Wednesday, hitting $156.28. The company had a trading volume of 6,089,660 shares, compared to its average volume of 8,056,833. The firm has a market cap of $288.02 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a 50-day moving average price of $159.33 and a two-hundred day moving average price of $154.51.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid 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 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.