Cypress Asset Management Inc. TX Sells 290 Shares of Chevron Co. (NYSE:CVX)

Cypress Asset Management Inc. TX decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,017 shares of the oil and gas company’s stock after selling 290 shares during the period. Cypress Asset Management Inc. TX’s holdings in Chevron were worth $2,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Capital Advisory LLC raised its stake in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $30,000. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its position in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction 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 completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now 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 at the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,397 shares of company stock valued at $1,855,582. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $4.07 during trading hours on Friday, reaching $148.55. The company had a trading volume of 13,278,618 shares, compared to its average volume of 6,585,736. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The business has a fifty day simple moving average of $156.37 and a 200 day simple moving average of $155.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a market cap of $273.77 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.33). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 EPS. On average, analysts anticipate that Chevron Co. will post 12.45 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Finally, UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.59.

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.