First Long Island Investors LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

First Long Island Investors LLC decreased its stake in Chevron Co. (NYSE:CVX) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,284 shares of the oil and gas company’s stock after selling 704 shares during the quarter. First Long Island Investors LLC’s holdings in Chevron were worth $16,450,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron 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 transaction 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 accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.1 %

CVX traded up $0.12 during trading on Thursday, hitting $155.25. 8,322,471 shares of the stock were exchanged, 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 firm has a 50 day simple moving average of $157.85 and a 200 day simple moving average of $155.03. The firm has a market cap of $286.12 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 2.34 and a beta of 1.10. 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 (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 business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the business posted $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

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