Houlihan Financial Resource Group Ltd. Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Houlihan Financial Resource Group Ltd. cut its stake in Chevron Co. (NYSE:CVX) by 14.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,256 shares of the oil and gas company’s stock after selling 721 shares during the period. Houlihan Financial Resource Group Ltd.’s holdings in Chevron were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Stokes Family Office LLC lifted its stake in shares of Chevron by 1.7% in the 1st quarter. Stokes Family Office LLC now owns 56,732 shares of the oil and gas company’s stock valued at $8,949,000 after purchasing an additional 958 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Chevron by 29.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 262,029 shares of the oil and gas company’s stock worth $41,332,000 after purchasing an additional 60,166 shares during the period. Empirical Finance LLC grew its holdings in shares of Chevron by 3.3% in the first quarter. Empirical Finance LLC now owns 65,427 shares of the oil and gas company’s stock valued at $10,320,000 after purchasing an additional 2,100 shares in the last quarter. Duality Advisers LP acquired a new stake in Chevron during the 1st quarter worth approximately $1,029,000. Finally, MGB Wealth Management LLC boosted its position in Chevron by 14.8% in the 1st quarter. MGB Wealth Management LLC now owns 4,497 shares of the oil and gas company’s stock valued at $709,000 after buying an additional 580 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.36 during midday trading on Friday, hitting $155.62. 6,443,501 shares of the stock were exchanged, compared to its average volume of 7,932,770. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $157.75 and a 200-day moving average price of $155.06. The stock has a market cap of $286.80 billion, a P/E ratio of 14.32, a PEG ratio of 2.35 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping 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 firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Truist Financial lifted their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Raymond James increased their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $187.06.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the 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 transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was 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 directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders sold 16,746 shares of company stock valued at $2,727,971. Company insiders own 0.20% of the company’s stock.

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.