Iams Wealth Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Iams Wealth Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 16.9% in the 1st quarter, HoldingsChannel reports. The firm owned 11,801 shares of the oil and gas company’s stock after acquiring an additional 1,702 shares during the quarter. Chevron accounts for approximately 1.1% of Iams Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Iams Wealth Management LLC’s holdings in Chevron were worth $1,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $254,000. Kapstone Financial Advisors LLC boosted its holdings in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares during the period. Lane & Associates LLC purchased a new position in Chevron in the 1st quarter valued at approximately $345,000. Finally, Guyasuta Investment Advisors Inc. raised its holdings in Chevron by 1.7% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after acquiring an additional 3,603 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. 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. Truist Financial upped their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. 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, Chevron currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insiders Place Their Bets

In other 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 value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.1 %

Shares of CVX opened at $156.75 on Wednesday. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. 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 stock has a 50 day simple moving average of $159.11 and a two-hundred day simple moving average of $154.82. The firm has a market cap of $288.89 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during 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 revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.55 EPS. On average, analysts forecast that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s payout ratio is 59.98%.

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.