Uncommon Cents Investing LLC Grows Stake in Chevron Co. (NYSE:CVX)

Uncommon Cents Investing LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,271 shares of the oil and gas company’s stock after purchasing an additional 640 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Chevron were worth $2,093,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth about $30,000. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $33,000. Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed 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 company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following 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. Insiders sold 16,746 shares of company stock worth $2,727,971 over the last 90 days. 0.20% of the stock is owned by insiders.

Chevron Price Performance

NYSE:CVX opened at $156.71 on Friday. The company has a market capitalization of $288.81 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The stock’s fifty day moving average is $158.68 and its two-hundred day moving average is $154.90. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. HSBC lifted their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. 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. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.