Congress Wealth Management LLC DE Buys 12,831 Shares of Chevron Co. (NYSE:CVX)

Congress Wealth Management LLC DE lifted its position in shares of Chevron Co. (NYSE:CVX) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,686 shares of the oil and gas company’s stock after buying an additional 12,831 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Chevron were worth $23,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ariel Investments LLC acquired a new stake in Chevron during the third quarter worth about $1,654,000. Alps Advisors Inc. acquired a new stake in Chevron during the third quarter worth $347,000. Evergreen Capital Management LLC raised its position in Chevron by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 40,993 shares of the oil and gas company’s stock valued at $6,912,000 after purchasing an additional 1,605 shares during the period. Ellerson Group Inc. ADV lifted its stake in shares of Chevron by 14.6% in the 3rd quarter. Ellerson Group Inc. ADV now owns 3,307 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 422 shares during the last quarter. Finally, Elevatus Welath Management grew its holdings in shares of Chevron by 10.7% during the 3rd quarter. Elevatus Welath Management now owns 2,791 shares of the oil and gas company’s stock worth $471,000 after purchasing an additional 270 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. UBS Group lifted their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Price Performance

Shares of 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 firm’s fifty day simple moving average is $159.22 and its 200-day simple moving average is $154.78. The firm has a market capitalization of $288.46 billion, a price-to-earnings ratio of 14.40, 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.

Chevron (NYSE:CVX) last posted 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. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.55 earnings per share. Equities analysts forecast 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. Investors of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’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 in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, 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. Insiders sold 16,746 shares of company stock valued at $2,727,971 over the last three months. 0.20% of the stock is owned by corporate insiders.

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.