ZWJ Investment Counsel Inc. decreased its position in Chevron Co. (NYSE:CVX) by 0.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 237,461 shares of the oil and gas company’s stock after selling 453 shares during the quarter. Chevron makes up 2.4% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 10th biggest holding. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $29,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVX. CKW Financial Group lifted its stake in shares of Chevron by 123.5% during the 4th quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Highwater Wealth Management LLC purchased a new position in Chevron during the 4th quarter worth $51,000. Ironwood Financial llc increased its holdings in Chevron by 94.2% during the 4th quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the period. Thor Advisors LLC purchased a new position in Chevron during the 1st quarter worth $67,000. Finally, Tributary Capital Management LLC purchased a new position in Chevron during the 4th quarter worth $84,000. 65.39% of the stock is currently owned by institutional investors.

Several research analysts have commented on CVX shares. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, April 29th. Cowen restated a “buy” rating and set a $142.00 price objective on shares of Chevron in a report on Wednesday, April 17th. Citigroup raised their price objective on Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Friday, April 12th. Finally, Mizuho reiterated a “buy” rating and issued a $140.00 price target on shares of Chevron in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $135.42.

Shares of NYSE:CVX opened at $120.81 on Monday. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $128.55. The firm has a market capitalization of $230.11 billion, a PE ratio of 14.64, a P/E/G ratio of 2.44 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business had revenue of $35.20 billion for the quarter, compared to the consensus estimate of $38.42 billion. During the same period last year, the business posted $1.90 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 7.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.19 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is presently 57.70%.

In other news, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total value of $512,946.00. Following the completion of the transaction, the director now owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total value of $255,675.00. Following the completion of the transaction, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The disclosure for this sale can be found here. In the last three months, insiders sold 11,050 shares of company stock valued at $1,365,221. Insiders own 0.31% of the company’s stock.

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Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading: Asset Allocation and Your Retirement

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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