RMR Wealth Builders Has $2.96 Million Stock Position in Chevron Co. (NYSE:CVX)

RMR Wealth Builders boosted its holdings in Chevron Co. (NYSE:CVX) by 21.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,738 shares of the oil and gas company’s stock after purchasing an additional 3,367 shares during the quarter. RMR Wealth Builders’ holdings in Chevron were worth $2,956,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. increased its stake in shares of Chevron by 12.2% in the 1st quarter. Sunbelt Securities Inc. now owns 34,318 shares of the oil and gas company’s stock valued at $5,413,000 after acquiring an additional 3,723 shares in the last quarter. Eagle Wealth Strategies LLC grew its holdings in Chevron by 5.3% in the first quarter. Eagle Wealth Strategies LLC now owns 10,518 shares of the oil and gas company’s stock worth $1,673,000 after purchasing an additional 528 shares during the period. Constitution Capital LLC increased its stake in Chevron by 32.0% in the first quarter. Constitution Capital LLC now owns 2,476 shares of the oil and gas company’s stock valued at $391,000 after purchasing an additional 600 shares in the last quarter. CIC Wealth LLC raised its holdings in shares of Chevron by 3.0% during the first quarter. CIC Wealth LLC now owns 14,185 shares of the oil and gas company’s stock valued at $2,238,000 after purchasing an additional 411 shares during the period. Finally, Financial Enhancement Group LLC bought a new position in shares of Chevron during the 1st quarter worth about $204,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $156.36 on Friday. The firm has a market capitalization of $288.17 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. 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 business’s fifty day simple moving average is $159.32 and its 200 day simple moving average is $154.52. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

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

Chevron Dividend Announcement

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

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now owns 27,725 shares in the company, valued at $4,581,279. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 in the last three months. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. 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, the company currently has a consensus rating of “Moderate Buy” and an average 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.