Fiduciary Alliance LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Fiduciary Alliance LLC lessened its position in Chevron Co. (NYSE:CVX) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 57,141 shares of the oil and gas company’s stock after selling 1,538 shares during the period. Chevron makes up 1.6% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 17th largest holding. Fiduciary Alliance LLC’s holdings in Chevron were worth $9,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. D.B. Root & Company LLC boosted its stake in shares of Chevron by 6.8% during the first quarter. D.B. Root & Company LLC now owns 10,733 shares of the oil and gas company’s stock valued at $1,693,000 after acquiring an additional 687 shares during the last quarter. Trilogy Capital Inc. raised its position in shares of Chevron by 10.8% in the first quarter. Trilogy Capital Inc. now owns 20,412 shares of the oil and gas company’s stock valued at $3,220,000 after buying an additional 1,992 shares during the last quarter. Red Door Wealth Management LLC boosted its position in Chevron by 27.3% during the first quarter. Red Door Wealth Management LLC now owns 59,788 shares of the oil and gas company’s stock worth $9,431,000 after acquiring an additional 12,825 shares during the last quarter. Avalon Capital Management raised its holdings in Chevron by 2.5% in the 1st quarter. Avalon Capital Management now owns 2,782 shares of the oil and gas company’s stock valued at $439,000 after acquiring an additional 69 shares during the last quarter. Finally, Jeppson Wealth Management LLC lifted its stake in shares of Chevron by 0.4% during the 1st quarter. Jeppson Wealth Management LLC now owns 16,558 shares of the oil and gas company’s stock worth $2,612,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale 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 the business’s 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 transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 over the last 90 days. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.1 %

CVX opened at $156.42 on Monday. The stock has a market capitalization of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm’s fifty day moving average price is $159.22 and its 200 day moving average price is $154.78.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.55 EPS. As a group, research analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

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.