Congress Asset Management Co. MA Buys 31,207 Shares of Chevron Co. (NYSE:CVX)

Congress Asset Management Co. MA increased its stake in shares of Chevron Co. (NYSE:CVX) by 8.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 395,708 shares of the oil and gas company’s stock after buying an additional 31,207 shares during the period. Congress Asset Management Co. MA’s holdings in Chevron were worth $62,419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth approximately $33,000. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC increased its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated 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 in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 0.9 %

Shares of CVX stock traded down $1.36 on Friday, hitting $155.28. The stock had a trading volume of 21,292,090 shares, compared to its average volume of 6,185,036. The business has a 50 day moving average of $159.25 and a 200 day moving average of $154.21. The stock has a market cap of $286.18 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. 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 Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.55 earnings per share. As a group, analysts expect that Chevron Co. will post 13.45 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s payout ratio is currently 59.98%.

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.