D.B. Root & Company LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

D.B. Root & Company LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,733 shares of the oil and gas company’s stock after acquiring an additional 687 shares during the quarter. D.B. Root & Company LLC’s holdings in Chevron were worth $1,693,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Trilogy Capital Inc. raised its stake in Chevron by 10.8% in the 1st quarter. Trilogy Capital Inc. now owns 20,412 shares of the oil and gas company’s stock worth $3,220,000 after acquiring an additional 1,992 shares during the last quarter. Red Door Wealth Management LLC raised its stake in shares of Chevron by 27.3% in the first quarter. Red Door Wealth Management LLC now owns 59,788 shares of the oil and gas company’s stock worth $9,431,000 after purchasing an additional 12,825 shares during the last quarter. Avalon Capital Management lifted its holdings in shares of Chevron by 2.5% during the first quarter. Avalon Capital Management now owns 2,782 shares of the oil and gas company’s stock worth $439,000 after purchasing an additional 69 shares during the period. Jeppson Wealth Management LLC boosted its position in Chevron by 0.4% in the first quarter. Jeppson Wealth Management LLC now owns 16,558 shares of the oil and gas company’s stock valued at $2,612,000 after buying an additional 70 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in Chevron by 55.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 46,236 shares of the oil and gas company’s stock worth $7,293,000 after buying an additional 16,406 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five equities research 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

NYSE CVX opened at $156.42 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $288.28 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The stock’s 50 day simple moving average is $159.22 and its 200-day simple moving average is $154.78.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last ninety days. Insiders own 0.20% of the company’s stock.

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.