Financial Management Professionals Inc. Raises Stake in Chevron Co. (NYSE:CVX)

Financial Management Professionals Inc. boosted its position in Chevron Co. (NYSE:CVX) by 6.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,218 shares of the oil and gas company’s stock after purchasing an additional 379 shares during the period. Financial Management Professionals Inc.’s holdings in Chevron were worth $981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the period. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Chevron during the fourth quarter valued at approximately $2,902,007,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

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

Chevron Trading Up 0.1 %

Shares of NYSE:CVX opened at $156.42 on Friday. The stock has a 50 day moving average of $159.22 and a 200 day moving average of $154.62. The company has a market cap of $288.28 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.38 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. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS 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 company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Piper Sandler increased their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.