DORCHESTER WEALTH MANAGEMENT Co Boosts Stock Position in Chevron Co. (NYSE:CVX)

DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Chevron Co. (NYSE:CVX) by 3.2% in the first quarter, Holdings Channel reports. The institutional investor owned 4,075 shares of the oil and gas company’s stock after acquiring an additional 125 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Chevron were worth $643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Alps Advisors Inc. purchased a new stake in shares of Chevron during the third quarter worth approximately $347,000. Ramirez Asset Management Inc. acquired a new position in Chevron during the third quarter worth $78,000. Harbour Investments Inc. boosted its stake in Chevron by 7.6% during the third quarter. Harbour Investments Inc. now owns 18,354 shares of the oil and gas company’s stock worth $3,095,000 after buying an additional 1,289 shares during the last quarter. Cravens & Co Advisors LLC boosted its stake in Chevron by 3.5% during the third quarter. Cravens & Co Advisors LLC now owns 9,597 shares of the oil and gas company’s stock worth $1,618,000 after buying an additional 321 shares during the last quarter. Finally, VitalStone Financial LLC boosted its stake in Chevron by 5.8% during the third quarter. VitalStone Financial LLC now owns 1,432 shares of the oil and gas company’s stock worth $241,000 after buying an additional 78 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is currently owned by insiders.

Chevron Stock Down 1.5 %

NYSE CVX traded down $2.40 during trading hours on Friday, hitting $154.31. 6,183,056 shares of the company were exchanged, compared to its average volume of 6,945,543. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market cap of $284.39 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 2.38 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $158.45 and a two-hundred day moving average of $154.93.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Scotiabank raised 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 note on Thursday, April 11th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Mizuho upped their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $186.95.

About Chevron

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.