Hartline Investment Corp Increases Stake in Chevron Co. (NYSE:CVX)

Hartline Investment Corp lifted its stake in shares of Chevron Co. (NYSE:CVX) by 309.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,379 shares of the oil and gas company’s stock after buying an additional 10,108 shares during the quarter. Hartline Investment Corp’s holdings in Chevron were worth $2,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacifica Partners Inc. increased its stake in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares in the last quarter. Ellenbecker Investment Group boosted its position in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares in the last quarter. Mayfair Advisory Group LLC boosted its position in shares of Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after purchasing an additional 65 shares in the last quarter. Finally, Penbrook Management LLC boosted its position in shares of Chevron by 3.9% during the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Truist Financial boosted their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Stock Down 1.5 %

NYSE CVX traded down $2.40 on Friday, reaching $154.31. The company had a trading volume of 6,100,723 shares, compared to its average volume of 8,003,902. The firm has a market capitalization of $284.39 billion, a PE ratio of 14.21, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a 50-day moving average of $158.68 and a 200-day moving average of $154.90. 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 released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 EPS. On average, equities research analysts anticipate that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was 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. Insiders have sold 16,746 shares of company stock worth $2,727,971 over the last ninety days. 0.20% of the stock is owned by insiders.

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.