Occidental Asset Management LLC Trims Position in Chevron Co. (NYSE:CVX)

Occidental Asset Management LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,328 shares of the oil and gas company’s stock after selling 464 shares during the period. Occidental Asset Management LLC’s holdings in Chevron were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group increased its position in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares during the period. Investment Partners LTD. grew its position in shares of Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the last quarter. Finally, Certified Advisory Corp lifted its position in Chevron by 0.4% in the 4th quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock worth $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $0.10 during trading hours on Friday, reaching $156.42. The company had a trading volume of 11,283,390 shares, compared to its average volume of 7,477,035. The firm has a market capitalization of $288.28 billion, a PE ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.12. The stock has a 50-day moving average of $159.22 and a two-hundred day moving average of $154.62. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. 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 issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the firm earned $3.55 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is presently 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.