Grandfield & Dodd LLC Boosts Position in Chevron Co. (NYSE:CVX)

Grandfield & Dodd LLC raised its stake in Chevron Co. (NYSE:CVX) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,502 shares of the oil and gas company’s stock after purchasing an additional 504 shares during the period. Grandfield & Dodd LLC’s holdings in Chevron were worth $18,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its position in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the period. Marks Group Wealth Management Inc increased its position in Chevron by 3.1% during the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after buying an additional 65 shares during the period. Ellenbecker Investment Group lifted its stake in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Truist Financial increased their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Mizuho raised their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Raymond James upped their price objective on 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 lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Price Performance

Shares of CVX traded up $0.12 on Thursday, reaching $155.25. The stock had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market capitalization of $286.12 billion, a PE ratio of 14.28, a PEG ratio of 2.34 and a beta of 1.10. The firm has a 50-day moving average of $157.85 and a 200 day moving average of $155.03. 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, beating the consensus estimate 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 return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 earnings per share. Sell-side analysts expect that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

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.