Retirement Planning Co of New England Inc. Reduces Holdings in Chevron Co. (NYSE:CVX)

Retirement Planning Co of New England Inc. trimmed its stake in Chevron Co. (NYSE:CVX) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,844 shares of the oil and gas company’s stock after selling 1,133 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Chevron were worth $1,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVX. American Capital Advisory LLC grew its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $33,000. Finally, Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter worth $40,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. UBS Group increased their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday. Piper Sandler increased their price target 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. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, 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 research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. In the last three months, insiders sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of CVX opened at $155.59 on Friday. The company has a 50-day simple moving average of $157.75 and a 200-day simple moving average of $155.08. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $286.75 billion, a PE ratio of 14.31, a P/E/G ratio of 2.36 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly 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. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the firm posted $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.