Successful Portfolios LLC Sells 662 Shares of Chevron Co. (NYSE:CVX)

Successful Portfolios LLC reduced its holdings in Chevron Co. (NYSE:CVXFree Report) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,235 shares of the oil and gas company’s stock after selling 662 shares during the period. Successful Portfolios LLC’s holdings in Chevron were worth $668,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. LVW Advisors LLC increased its position in Chevron by 5.0% in the 1st quarter. LVW Advisors LLC now owns 10,425 shares of the oil and gas company’s stock worth $1,644,000 after buying an additional 497 shares during the period. Roberts Wealth Advisors LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $561,000. Citizens Business Bank increased its position in shares of Chevron by 3.8% during the first quarter. Citizens Business Bank now owns 29,180 shares of the oil and gas company’s stock valued at $4,800,000 after purchasing an additional 1,074 shares during the period. Mayfair Advisory Group LLC increased its position in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after purchasing an additional 65 shares during the period. Finally, Financial Partners Group LLC increased its position in shares of Chevron by 3.6% during the first quarter. Financial Partners Group LLC now owns 34,001 shares of the oil and gas company’s stock valued at $5,363,000 after purchasing an additional 1,167 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Wells Fargo & Company boosted their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Truist Financial boosted their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Check Out Our Latest Report on Chevron

Chevron Price Performance

Chevron stock opened at $156.52 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a market cap of $288.46 billion, a P/E ratio of 14.40, a P/E/G ratio of 2.38 and a beta of 1.10. The business’s fifty day moving average is $159.22 and its two-hundred day moving average is $154.78. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Alana K. Knowles sold 2,800 shares of the company’s 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s 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 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 valued at $2,727,971 over the last 90 days. 0.20% of the stock is owned by company insiders.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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