Exeter Financial LLC Has $4.15 Million Position in Chevron Co. (NYSE:CVX)

Exeter Financial LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 2.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,853 shares of the oil and gas company’s stock after acquiring an additional 527 shares during the period. Chevron accounts for about 1.9% of Exeter Financial LLC’s portfolio, making the stock its 15th largest position. Exeter Financial LLC’s holdings in Chevron were worth $4,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $33,000. Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC increased its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded up $0.13 on Thursday, reaching $156.08. The stock had a trading volume of 2,432,509 shares, compared to its average volume of 8,031,823. 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 $287.65 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. 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’s 50 day moving average is $159.32 and its two-hundred day moving average is $154.52.

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, topping 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 firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm posted $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on 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 in the company, valued at $45,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock worth $3,176,223. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVX shares. Truist Financial boosted their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Piper Sandler upped 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. Finally, Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $186.95.

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.