Chevron Co. (NYSE:CVX) Shares Purchased by Hubbell Strickland Wealth Management LLC

Hubbell Strickland Wealth Management LLC grew its stake in Chevron Co. (NYSE:CVX) by 1.7% during the first quarter, HoldingsChannel reports. The firm owned 9,429 shares of the oil and gas company’s stock after purchasing an additional 158 shares during the quarter. Chevron comprises approximately 0.8% of Hubbell Strickland Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Hubbell Strickland Wealth Management LLC’s holdings in Chevron were worth $1,487,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $33,000. Cooksen Wealth LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. HSBC raised their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Raymond James boosted their price objective 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. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Finally, UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.95.

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 quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a 50-day moving average price of $159.22 and a 200 day moving average price of $154.78. The company has a market capitalization of $288.46 billion, a P/E ratio of 14.40, a P/E/G ratio of 2.38 and a beta of 1.10.

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

Chevron Dividend Announcement

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

Insider Activity

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,746 shares of company stock valued at $2,727,971. 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.