Bfsg LLC Sells 1,200 Shares of Chevron Co. (NYSE:CVX)

Bfsg LLC lowered its stake in Chevron Co. (NYSE:CVX) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,568 shares of the oil and gas company’s stock after selling 1,200 shares during the period. Bfsg LLC’s holdings in Chevron were worth $3,441,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CVX. Lesa Sroufe & Co purchased a new position in shares of Chevron in the 1st quarter worth about $410,000. Chicago Capital LLC raised its position in shares of Chevron by 42.1% in the 1st quarter. Chicago Capital LLC now owns 10,995 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 3,260 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Chevron by 1.2% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 108,659 shares of the oil and gas company’s stock worth $18,178,000 after purchasing an additional 1,291 shares during the last quarter. AA Financial Advisors LLC purchased a new position in shares of Chevron in the 1st quarter worth about $245,000. Finally, Inscription Capital LLC purchased a new position in shares of Chevron in the 1st quarter worth about $11,873,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 0.1%

Shares of CVX stock opened at $146.07 on Tuesday. The stock’s fifty day moving average is $138.72 and its two-hundred day moving average is $148.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $255.09 billion, a P/E ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.68%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.