UNIVEST FINANCIAL Corp Reduces Stake in Chevron Co. (NYSE:CVX)

UNIVEST FINANCIAL Corp cut its holdings in shares of Chevron Co. (NYSE:CVX) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,824 shares of the oil and gas company’s stock after selling 360 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Chevron were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the third quarter worth approximately $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in 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 valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $33,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $43,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Raymond James lifted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,247 shares of company stock valued at $2,154,164. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX traded up $0.37 during mid-day trading on Tuesday, hitting $162.67. The stock had a trading volume of 6,673,596 shares, compared to its average volume of 8,463,507. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $300.45 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a 50 day simple moving average of $157.41 and a 200 day simple moving average of $151.48. 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 released its quarterly earnings data 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the business posted $3.55 EPS. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. Chevron’s dividend payout ratio is currently 59.98%.

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.