Chevron Co. (NYSE:CVX) Shares Purchased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group boosted its position in shares of Chevron Co. (NYSE:CVX) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,272 shares of the oil and gas company’s stock after purchasing an additional 1,405 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Chevron were worth $3,040,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Chevron during the 3rd quarter valued at approximately $293,000. Invst LLC grew its stake in Chevron by 8.1% in the third quarter. Invst LLC now owns 1,552 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 116 shares in the last quarter. Quantum Financial Advisors LLC lifted its position in shares of Chevron by 66.2% in the third quarter. Quantum Financial Advisors LLC now owns 4,208 shares of the oil and gas company’s stock worth $709,000 after buying an additional 1,676 shares during the last quarter. Fidelity D & D Bancorp Inc. acquired a new position in shares of Chevron during the 3rd quarter worth about $877,000. Finally, Wellington Management Group LLP raised its holdings in Chevron by 13.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock valued at $612,164,000 after acquiring an additional 423,863 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.8 %

Shares of CVX traded up $1.18 during midday trading on Wednesday, reaching $154.16. 2,680,467 shares of the stock were exchanged, compared to its average volume of 7,919,422. The firm has a 50 day simple moving average of $158.04 and a 200-day simple moving average of $155.03. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market cap of $284.11 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly 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 business 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 quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.55 EPS. Research analysts forecast that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The business 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 was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.23%. Chevron’s payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction 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 in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the 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 completion of the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVX shares. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Raymond James lifted 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. Finally, UBS Group boosted their price objective 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. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

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.