Brookmont Capital Management Acquires 83 Shares of Chevron Co. (NYSE:CVX)

Brookmont Capital Management boosted its position in shares of Chevron Co. (NYSE:CVX) by 0.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,779 shares of the oil and gas company’s stock after buying an additional 83 shares during the quarter. Chevron makes up about 1.9% of Brookmont Capital Management’s holdings, making the stock its 19th biggest holding. Brookmont Capital Management’s holdings in Chevron were worth $3,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Caxton Associates LP purchased a new stake in shares of Chevron in the 3rd quarter worth about $207,000. Richard Bernstein Advisors LLC boosted its stake in Chevron by 183.2% in the 3rd quarter. Richard Bernstein Advisors LLC now owns 53,174 shares of the oil and gas company’s stock worth $8,966,000 after purchasing an additional 34,398 shares in the last quarter. Dempze Nancy E boosted its stake in Chevron by 6.9% in the 3rd quarter. Dempze Nancy E now owns 4,617 shares of the oil and gas company’s stock worth $779,000 after purchasing an additional 300 shares in the last quarter. Waverly Advisors LLC boosted its stake in Chevron by 34.6% in the 3rd quarter. Waverly Advisors LLC now owns 35,392 shares of the oil and gas company’s stock worth $5,968,000 after purchasing an additional 9,095 shares in the last quarter. Finally, Blackstone Inc. boosted its stake in Chevron by 76.2% in the 3rd quarter. Blackstone Inc. now owns 13,529 shares of the oil and gas company’s stock worth $2,281,000 after purchasing an additional 5,851 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.1 %

Shares of CVX stock traded up $0.10 during trading hours on Friday, reaching $156.42. 11,227,480 shares of the company’s stock were exchanged, compared to its average volume of 8,083,321. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market cap of $288.28 billion, a PE ratio of 14.39, a PEG ratio of 2.37 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 stock’s fifty day moving average price is $159.22 and its two-hundred day moving average price is $154.62.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling

In other Chevron news, 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 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 $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was 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 of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, TD Cowen raised their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.