Cornerstone Wealth Group LLC Grows Position in Chevron Co. (NYSE:CVX)

Cornerstone Wealth Group LLC boosted its stake in Chevron Co. (NYSE:CVX) by 55.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,236 shares of the oil and gas company’s stock after buying an additional 16,406 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Chevron were worth $7,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Richardson Capital Management LLC purchased a new stake in Chevron in the 1st quarter valued at $58,000. River Street Advisors LLC grew its stake in Chevron by 8.5% in the 1st quarter. River Street Advisors LLC now owns 2,719 shares of the oil and gas company’s stock valued at $429,000 after purchasing an additional 212 shares during the period. New Mexico Educational Retirement Board grew its stake in Chevron by 21.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 112,116 shares of the oil and gas company’s stock valued at $18,256,000 after purchasing an additional 19,500 shares during the period. Founders Financial Securities LLC grew its stake in Chevron by 34.5% in the 1st quarter. Founders Financial Securities LLC now owns 14,929 shares of the oil and gas company’s stock valued at $2,355,000 after purchasing an additional 3,828 shares during the period. Finally, Atticus Wealth Management LLC grew its stake in Chevron by 6.0% in the 1st quarter. Atticus Wealth Management LLC now owns 4,397 shares of the oil and gas company’s stock valued at $694,000 after purchasing an additional 250 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HSBC upped their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group upped their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was 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 of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.1 %

CVX stock opened at $156.42 on Monday. 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 firm has a market capitalization of $288.28 billion, a PE ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The stock has a 50-day simple moving average of $159.22 and a two-hundred day simple moving average of $154.78.

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, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $3.55 EPS. On average, equities analysts predict that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 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.