First Trust Direct Indexing L.P. Has $5.35 Million Stock Holdings in Chevron Co. (NYSE:CVX)

First Trust Direct Indexing L.P. grew its position in Chevron Co. (NYSE:CVX) by 11.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,876 shares of the oil and gas company’s stock after purchasing an additional 3,605 shares during the period. First Trust Direct Indexing L.P.’s holdings in Chevron were worth $5,351,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Windsor Advisory Group LLC lifted its position in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares in the last quarter. Renaissance Investment Group LLC lifted its position in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its position in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Chevron during the 4th quarter worth about $254,000. Finally, Kapstone Financial Advisors LLC lifted its position in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the 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 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 document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Chevron Stock Down 1.1 %

NYSE CVX traded down $1.71 during trading hours on Wednesday, reaching $159.56. 7,713,683 shares of the company’s stock were exchanged, compared to its average volume of 8,445,484. The company’s 50-day moving average is $156.96 and its two-hundred day moving average is $151.68. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market capitalization of $296.35 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the business earned $3.55 EPS. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Piper Sandler boosted 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. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron 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.