Chevron Corporation $CVX Shares Sold by Baugh & Associates LLC

Baugh & Associates LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 17.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,209 shares of the oil and gas company’s stock after selling 5,555 shares during the quarter. Chevron accounts for about 2.4% of Baugh & Associates LLC’s holdings, making the stock its 21st biggest position. Baugh & Associates LLC’s holdings in Chevron were worth $5,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the fourth quarter worth $27,000. Karpus Management Inc. acquired a new position in Chevron during the fourth quarter worth $27,000. Finally, Quattro Advisors LLC purchased a new position in Chevron in the fourth quarter worth $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Barclays upped their price target on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Performance

NYSE:CVX opened at $173.51 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The firm has a 50-day moving average price of $186.63 and a two-hundred day moving average price of $179.20. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 earnings per share. As a group, research analysts expect that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.