Hengehold Capital Management LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Hengehold Capital Management LLC cut its stake in Chevron Co. (NYSE:CVX) by 0.8% in the first quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the fourth quarter worth $30,000. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth $33,000. Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC lifted its stake 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 worth $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, 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 transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the 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 completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, 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. 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVX shares. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. HSBC upped their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Truist Financial upped their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.43 during trading hours on Friday, hitting $156.75. The company’s stock had a trading volume of 4,021,612 shares, compared to its average volume of 8,022,711. The stock has a market capitalization of $288.88 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The stock has a fifty day moving average of $159.32 and a 200-day moving average of $154.52. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm 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%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.55 earnings per share. On average, equities analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 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.