Easterly Investment Partners LLC Sells 31,960 Shares of Chevron Co. (NYSE:CVX)

Easterly Investment Partners LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,280 shares of the oil and gas company’s stock after selling 31,960 shares during the period. Easterly Investment Partners LLC’s holdings in Chevron were worth $6,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacifica Partners Inc. increased its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its holdings in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the last quarter. Ellenbecker Investment Group increased its holdings in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the last quarter. Mayfair Advisory Group LLC increased its holdings in shares of Chevron by 0.7% in 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 buying an additional 65 shares during the last quarter. Finally, Penbrook Management LLC increased its holdings in shares of Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after buying an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.7 %

NYSE:CVX traded up $1.02 during midday trading on Wednesday, reaching $154.00. 1,973,733 shares of the stock traded hands, compared to its average volume of 7,914,092. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The business has a 50-day moving average of $158.04 and a two-hundred day moving average of $155.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The stock has a market capitalization of $283.82 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.55 EPS. On average, equities analysts forecast that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.23%. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts recently commented on CVX shares. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’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 sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by company insiders.

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.