Means Investment CO. Inc. Acquires 1,164 Shares of Chevron Co. (NYSE:CVX)


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Means Investment CO. Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,666 shares of the oil and gas company’s stock after buying an additional 1,164 shares during the quarter. Chevron accounts for 1.3% of Means Investment CO. Inc.’s portfolio, making the stock its 18th largest position. Means Investment CO. Inc.’s holdings in Chevron were worth $5,728,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Proquility Private Wealth Partners LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $524,000. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $793,000. Lord Abbett & CO. LLC grew its holdings in shares of Chevron by 1.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,833,303 shares of the oil and gas company’s stock valued at $154,822,000 after buying an additional 32,797 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $5,164,000. Finally, Lumature Wealth Partners LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $292,000. Hedge funds and other institutional investors own 62.27% of the company’s stock.

In other Chevron news, CFO Pierre R. Breber sold 13,000 shares of Chevron stock in a transaction on Wednesday, January 20th. The shares were sold at an average price of $95.00, for a total value of $1,235,000.00. Following the completion of the transaction, the chief financial officer now directly owns 13,686 shares of the company’s stock, valued at approximately $1,300,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 132,000 shares of Chevron stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the completion of the transaction, the chief executive officer now directly owns 132,000 shares of the company’s stock, valued at $12,504,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,700 shares of company stock worth $15,133,067. 0.28% of the stock is currently owned by insiders.

CVX has been the topic of several research reports. Piper Sandler raised their target price on shares of Chevron from $113.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. Raymond James raised their target price on shares of Chevron from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, March 23rd. Evercore ISI raised their target price on shares of Chevron from $98.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 23rd. Scotiabank restated a “sector perform” rating and issued a $115.00 target price on shares of Chevron in a report on Tuesday, March 16th. Finally, Barclays raised their target price on shares of Chevron from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, January 14th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.75.

NYSE CVX traded down $1.61 on Thursday, reaching $102.58. The company had a trading volume of 158,536 shares, compared to its average volume of 11,355,726. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $197.61 billion, a PE ratio of -16.97, a price-to-earnings-growth ratio of 5.74 and a beta of 1.33. The firm’s 50 day moving average price is $104.34 and its 200 day moving average price is $88.55. Chevron Co. has a 12 month low of $65.16 and a 12 month high of $112.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The company had revenue of $25.25 billion during the quarter, compared to the consensus estimate of $25.97 billion. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business’s revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, research analysts expect that Chevron Co. will post 0.03 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 17th were issued a $1.29 dividend. The ex-dividend date of this dividend was Tuesday, February 16th. This represents a $5.16 dividend on an annualized basis and a yield of 5.03%. Chevron’s dividend payout ratio is currently 82.30%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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