Rise Advisors LLC Buys 892 Shares of Chevron Co. (NYSE:CVX)

Rise Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 144.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,508 shares of the oil and gas company’s stock after purchasing an additional 892 shares during the quarter. Rise Advisors LLC’s holdings in Chevron were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Octavia Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.3% during the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 68 shares in the last quarter. Investment Partners LTD. raised its position in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares during the last quarter. Certified Advisory Corp boosted its stake in shares of Chevron by 0.4% during the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Chevron by 2.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock worth $509,000 after purchasing an additional 69 shares during the last quarter. Finally, ACT Wealth Management LLC increased its stake in shares of Chevron by 1.7% in the fourth quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 70 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 2.2 %

Chevron stock opened at $156.65 on Friday. 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 $288.70 billion, a PE ratio of 14.41, a PEG ratio of 2.28 and a beta of 1.12. The firm’s fifty day moving average is $159.32 and its 200 day moving average is $154.06. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm 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%. 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 business earned $3.55 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. 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 4.16%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Truist Financial upped their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

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.