First Dallas Securities Inc. Has $616,000 Stake in Chevron Co. (NYSE:CVX)

First Dallas Securities Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,906 shares of the oil and gas company’s stock after selling 189 shares during the quarter. First Dallas Securities Inc.’s holdings in Chevron were worth $616,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pacifica Partners Inc. raised its stake in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the period. Ellenbecker Investment Group boosted its holdings in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in Chevron by 1.3% during the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares during the period. Investment Partners LTD. raised its position in Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares during the last quarter. Finally, Certified Advisory Corp raised its position in Chevron by 0.4% during the 4th quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction 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 directly owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research 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 research report on Monday, April 29th. Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Up 0.1 %

Shares of CVX stock traded up $0.10 during mid-day trading on Friday, hitting $156.42. The company’s stock had a trading volume of 11,283,390 shares, compared to its average volume of 7,477,035. The stock has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 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 52-week low of $139.62 and a 52-week high of $171.70. The business has a 50-day moving average price of $159.22 and a 200 day moving average price of $154.62.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations 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 business earned $3.55 earnings per share. Research analysts predict that Chevron Co. will post 13.15 EPS for the current fiscal 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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.