DMC Group LLC Sells 258 Shares of Chevron Co. (NYSE:CVX)

DMC Group LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,942 shares of the oil and gas company’s stock after selling 258 shares during the period. DMC Group LLC’s holdings in Chevron were worth $1,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Pacifica Partners Inc. lifted its holdings in shares of Chevron by 1.8% in the 1st 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 period. Private Wealth Management Group LLC lifted its holdings in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares during the period. Ellenbecker Investment Group boosted its position in Chevron by 1.5% in the 1st 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 in the last quarter. Mayfair Advisory Group LLC grew its stake in shares of Chevron by 0.7% during the 1st 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 period. Finally, Penbrook Management LLC increased its holdings in shares of Chevron by 3.9% during the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler boosted 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. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Up 0.4 %

Shares of Chevron stock traded up $0.52 during trading hours on Wednesday, hitting $144.67. The company’s stock had a trading volume of 5,802,449 shares, compared to its average volume of 7,898,785. The firm has a fifty day moving average of $154.39 and a 200-day moving average of $156.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $266.62 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 EPS. Research analysts forecast that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

About Chevron

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.