Etesian Wealth Advisors Inc. Cuts Holdings in Chevron Co. (NYSE:CVX)

Etesian Wealth Advisors Inc. cut its position in shares of Chevron Co. (NYSE:CVX) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,227 shares of the oil and gas company’s stock after selling 214 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Chevron were worth $1,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Investments LLC raised its position in Chevron by 55.6% in the first quarter. Parkside Investments LLC now owns 9,796 shares of the oil and gas company’s stock worth $1,545,000 after acquiring an additional 3,500 shares during the period. Hoxton Planning & Management LLC bought a new stake in Chevron in the first quarter worth about $234,000. DLK Investment Management LLC raised its position in Chevron by 3.3% in the first quarter. DLK Investment Management LLC now owns 2,194 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 70 shares during the period. Wallace Advisory Group LLC raised its position in shares of Chevron by 2.8% in the first quarter. Wallace Advisory Group LLC now owns 43,515 shares of the oil and gas company’s stock valued at $6,491,000 after purchasing an additional 1,174 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Chevron by 9.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 103,715 shares of the oil and gas company’s stock valued at $16,360,000 after purchasing an additional 8,690 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The shares were 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 of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last three months. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Down 0.5 %

Shares of CVX traded down $0.79 during mid-day trading on Tuesday, hitting $158.52. 6,055,658 shares of the company traded hands, compared to its average volume of 8,073,078. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. 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 market capitalization of $292.15 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The business has a 50 day moving average of $159.28 and a 200 day moving average of $154.41.

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, topping the consensus estimate 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 return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.55 EPS. Equities research analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial increased 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. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron 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.