Game Plan Financial Advisors LLC Purchases Shares of 9,107 Chevron Co. (NYSE:CVX)

Game Plan Financial Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,107 shares of the oil and gas company’s stock, valued at approximately $1,437,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Morgan Stanley lifted its stake in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth about $2,902,007,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their target price 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. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Raymond James lifted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Truist Financial lifted their price objective 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. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 2.2 %

CVX traded up $3.34 during trading on Monday, reaching $158.62. 2,160,287 shares of the company’s stock were exchanged, compared to its average volume of 8,041,467. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $292.33 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The firm has a fifty day moving average price of $159.25 and a two-hundred day moving average price of $154.30.

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, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

About Chevron

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.