Bruce G. Allen Investments LLC Has $531,000 Position in Chevron Co. (NYSE:CVX)

Bruce G. Allen Investments LLC raised its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,364 shares of the oil and gas company’s stock after purchasing an additional 238 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Chevron were worth $531,000 at the end of the most recent reporting period.

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

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’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 transaction of $462,000.00. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of CVX traded up $3.32 during mid-day trading on Thursday, reaching $156.65. The company had a trading volume of 8,334,985 shares, compared to its average volume of 7,978,973. The company’s 50 day simple moving average is $159.32 and its 200 day simple moving average is $154.06. The company has a market capitalization of $288.70 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.28 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVXGet Free Report) last posted its 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 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 analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

View Our Latest Stock Analysis on CVX

Chevron Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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