Richardson Capital Management LLC Purchases Shares of 365 Chevron Co. (NYSE:CVX)

Richardson Capital Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) during the first quarter, Holdings Channel.com reports. The firm purchased 365 shares of the oil and gas company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Investment Group LLC grew its position in Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 697 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $254,000. Kapstone Financial Advisors LLC grew its holdings in shares of Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares during the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the first quarter worth approximately $345,000. Finally, Guyasuta Investment Advisors Inc. grew its holdings in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last quarter. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVX shares. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Raymond James raised their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Truist Financial raised their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, TD Cowen raised their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Price Performance

CVX opened at $156.42 on Monday. The stock has a 50-day moving average price of $159.22 and a 200-day moving average price of $154.78. 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 $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 EPS. Sell-side analysts predict that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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