Roof Eidam Maycock Peralta LLC Reduces Position in Chevron Co. (NYSE:CVX)

Roof Eidam Maycock Peralta LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,286 shares of the oil and gas company’s stock after selling 115 shares during the quarter. Roof Eidam Maycock Peralta LLC’s holdings in Chevron were worth $1,465,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. WealthPLAN Partners LLC grew its stake in Chevron by 10.5% in the fourth quarter. WealthPLAN Partners LLC now owns 59,191 shares of the oil and gas company’s stock worth $8,829,000 after purchasing an additional 5,641 shares in the last quarter. Pacifica Partners Inc. grew its stake in Chevron by 3.1% in the fourth quarter. Pacifica Partners Inc. now owns 3,429 shares of the oil and gas company’s stock worth $490,000 after purchasing an additional 103 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter worth about $33,000. Walker Asset Management LLC grew its stake in Chevron by 32.2% in the fourth quarter. Walker Asset Management LLC now owns 11,458 shares of the oil and gas company’s stock worth $1,709,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Tompkins Financial Corp grew its stake in Chevron by 8.2% in the fourth quarter. Tompkins Financial Corp now owns 10,500 shares of the oil and gas company’s stock worth $1,566,000 after purchasing an additional 795 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.06.

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 stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $0.33 during midday trading on Friday, hitting $155.59. 6,446,316 shares of the stock were exchanged, compared to its average volume of 6,742,573. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market capitalization of $286.75 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.36 and a beta of 1.10. The business has a 50-day moving average price of $157.75 and a two-hundred day moving average price of $155.06. 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 (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 13.18 EPS 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 dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s payout ratio is 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.