First PREMIER Bank Has $1.10 Million Position in Chevron Co. (NYSE:CVX)

First PREMIER Bank reduced its holdings in Chevron Co. (NYSE:CVX) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,997 shares of the oil and gas company’s stock after selling 141 shares during the quarter. First PREMIER Bank’s holdings in Chevron were worth $1,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ellenbecker Investment Group lifted its stake in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the period. Octavia Wealth Advisors LLC raised its stake in shares of Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares in the last quarter. Investment Partners LTD. lifted its holdings in shares of Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the period. Certified Advisory Corp increased its stake in Chevron by 0.4% in the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after acquiring an additional 68 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its position in Chevron by 2.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock worth $509,000 after purchasing an additional 69 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 2.3 %

Shares of Chevron stock traded up $3.57 on Monday, hitting $158.85. The company had a trading volume of 3,041,789 shares, compared to its average volume of 8,048,813. The firm has a market capitalization of $292.76 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.33 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. 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 stock has a 50-day moving average of $159.25 and a 200-day moving average of $154.30.

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 net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. Research analysts predict that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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. This represents a $6.52 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVX shares. TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. HSBC lifted 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. Finally, UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by insiders.

Chevron Company 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.