Chesapeake Wealth Management Sells 1,306 Shares of Chevron Co. (NYSE:CVX)

Chesapeake Wealth Management lowered its position in Chevron Co. (NYSE:CVX) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,519 shares of the oil and gas company’s stock after selling 1,306 shares during the quarter. Chesapeake Wealth Management’s holdings in Chevron were worth $2,464,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new stake in Chevron during the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth about $33,000. Gold Investment Management Ltd. purchased a new position in shares of Chevron in the fourth quarter worth about $49,000. Finally, Roble Belko & Company Inc increased its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CVX. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Up 2.6 %

NYSE CVX traded up $4.04 during mid-day trading on Friday, reaching $162.30. The stock had a trading volume of 10,334,227 shares, compared to its average volume of 6,174,546. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market cap of $299.11 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11. The company has a fifty day moving average price of $160.58 and a 200 day moving average price of $153.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during 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 company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.55 EPS. On average, research analysts expect that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock worth $3,176,223. 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.