Chevron Co. (NYSE:CVX) Stake Lifted by Penbrook Management LLC

Penbrook Management LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 3.9% in the 1st quarter, HoldingsChannel reports. The firm owned 1,730 shares of the oil and gas company’s stock after purchasing an additional 65 shares during the quarter. Penbrook Management LLC’s holdings in Chevron were worth $273,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pacifica Partners Inc. grew its position in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group boosted 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. Mayfair Advisory Group LLC boosted its stake in shares of Chevron by 0.7% in 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 buying an additional 65 shares during the period. MCF Advisors LLC boosted its stake in shares of Chevron by 0.7% in the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock valued at $1,489,000 after buying an additional 66 shares during the period. Finally, Octavia Wealth Advisors LLC boosted its stake in shares of Chevron by 1.3% in the fourth 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 during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were 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 approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were 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 approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The stock was 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 in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Performance

Shares of Chevron stock opened at $156.75 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $159.11 and a two-hundred day moving average price of $154.82. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $288.89 billion, a P/E ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the business posted $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. Chevron’s payout ratio is currently 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.