Hedeker Wealth LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Hedeker Wealth LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,566 shares of the oil and gas company’s stock after selling 230 shares during the period. Hedeker Wealth LLC’s holdings in Chevron were worth $1,667,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pacifica Partners Inc. increased its holdings in 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 buying an additional 63 shares during the last quarter. Ellenbecker Investment Group grew its holdings in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the last quarter. Mayfair Advisory Group LLC grew its holdings 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 worth $1,484,000 after purchasing an additional 65 shares during the last quarter. Penbrook Management LLC grew its holdings in shares of Chevron by 3.9% during the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 65 shares during the last quarter. Finally, Verum Partners LLC grew its holdings in shares of Chevron by 3.0% during the first quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock worth $353,000 after purchasing an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $156.75 on Thursday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The stock’s 50 day moving average is $158.99 and its two-hundred day moving average is $154.88. The firm has a market capitalization of $288.89 billion, a PE ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly 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. The business had revenue of $48.72 billion for 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%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.55 EPS. Research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

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 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred 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 transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five 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, the company has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron 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.