Chevron Co. (NYSE:CVX) Shares Bought by Horizon Wealth Management LLC

Horizon Wealth Management LLC increased its holdings in Chevron Co. (NYSE:CVX) by 395.5% in the first quarter, HoldingsChannel.com reports. The firm owned 12,735 shares of the oil and gas company’s stock after buying an additional 10,165 shares during the quarter. Chevron makes up 0.5% of Horizon Wealth Management LLC’s holdings, making the stock its 21st biggest holding. Horizon Wealth Management LLC’s holdings in Chevron were worth $2,009,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the last quarter. Ellenbecker Investment Group lifted its position in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the period. Mayfair Advisory Group LLC lifted its position in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after purchasing an additional 65 shares during the period. MCF Advisors LLC lifted its position in Chevron by 0.7% in the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock valued at $1,489,000 after purchasing an additional 66 shares during the period. Finally, Octavia Wealth Advisors LLC lifted its position in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

Shares of CVX opened at $156.52 on Tuesday. 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 firm has a 50 day simple moving average of $159.22 and a 200-day simple moving average of $154.78. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a market cap of $288.46 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend 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 59.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’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 completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. In the last three months, insiders sold 16,746 shares of company stock valued at $2,727,971. Company insiders own 0.20% of the company’s stock.

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.