Future Financial Wealth Managment LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Future Financial Wealth Managment LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) in the first quarter, Holdings Channel reports. The fund bought 1,199 shares of the oil and gas company’s stock, valued at approximately $189,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. 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 purchasing an additional 63 shares in the last quarter. Ellenbecker Investment Group increased its holdings in 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 in the last quarter. Octavia Wealth Advisors LLC lifted its stake in 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 during the period. Investment Partners LTD. raised its holdings in shares of Chevron by 0.8% during 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. Finally, Certified Advisory Corp lifted its position in 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 during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $156.36 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market cap of $288.17 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.37 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock’s 50 day simple moving average is $159.32 and its two-hundred day simple moving average is $154.52.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the business posted $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 over the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Truist Financial lifted their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.