CCG Wealth Management LLC Takes $1.02 Million Position in Chevron Co. (NYSE:CVX)

CCG Wealth Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,486 shares of the oil and gas company’s stock, valued at approximately $1,023,000. Chevron comprises approximately 0.6% of CCG Wealth Management LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC grew its position in shares of Chevron by 30.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 25,507 shares of the oil and gas company’s stock valued at $4,023,000 after acquiring an additional 5,962 shares during the period. Hubbell Strickland Wealth Management LLC grew its holdings in Chevron by 1.7% during the first quarter. Hubbell Strickland Wealth Management LLC now owns 9,429 shares of the oil and gas company’s stock worth $1,487,000 after purchasing an additional 158 shares during the period. Kowal Investment Group LLC grew its holdings in Chevron by 45.3% during the first quarter. Kowal Investment Group LLC now owns 10,941 shares of the oil and gas company’s stock worth $1,726,000 after purchasing an additional 3,413 shares during the period. Horizon Wealth Management LLC increased its position in Chevron by 395.5% during the first quarter. Horizon Wealth Management LLC now owns 12,735 shares of the oil and gas company’s stock worth $2,009,000 after buying an additional 10,165 shares during the last quarter. Finally, BKM Wealth Management LLC lifted its position in shares of Chevron by 27.2% in the first quarter. BKM Wealth Management LLC now owns 13,499 shares of the oil and gas company’s stock valued at $2,129,000 after buying an additional 2,887 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last 90 days. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.52 on Tuesday. 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 $288.46 billion, a PE ratio of 14.40, a PEG ratio of 2.38 and a beta of 1.10. The firm has a 50 day moving average of $159.22 and a 200-day moving average of $154.78. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. 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. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five research 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 presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron 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.