Chevron Co. (NYSE:CVX) Shares Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,996 shares of the oil and gas company’s stock after buying an additional 1,704 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Chevron were worth $7,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Pacifica Partners Inc. grew its holdings in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group grew its holdings 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 last quarter. Mayfair Advisory Group LLC grew its holdings 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 last quarter. Penbrook Management LLC grew its holdings in Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 65 shares during the last quarter. Finally, Verum Partners LLC grew its holdings in Chevron by 3.0% in the first quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $156.75 on Thursday. The business’s 50-day moving average price is $158.99 and its 200 day moving average price is $154.88. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a market capitalization of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 earnings per share. On average, research analysts predict that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued 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 dividend yield of 4.16%. Chevron’s payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. Mizuho upped their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Raymond James increased their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

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.