Sunburst Financial Group LLC Has $313,000 Stock Position in Chevron Co. (NYSE:CVX)

Sunburst Financial Group LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 26.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,970 shares of the oil and gas company’s stock after selling 712 shares during the quarter. Sunburst Financial Group LLC’s holdings in Chevron were worth $313,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James increased their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Chevron Stock Up 0.7 %

CVX traded up $1.02 during trading on Friday, hitting $157.34. 2,079,753 shares of the company’s stock were exchanged, compared to its average volume of 8,009,114. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market cap of $289.97 billion, a P/E ratio of 14.48, a PEG ratio of 2.37 and a beta of 1.12. The business’s 50 day moving average is $159.32 and its two-hundred day moving average is $154.52. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) 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. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s payout ratio is 59.98%.

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.