Chevron Co. (NYSE:CVX) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC increased its holdings in Chevron Co. (NYSE:CVX) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,279 shares of the oil and gas company’s stock after purchasing an additional 1,616 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Chevron were worth $2,883,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC purchased a new stake in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its position in shares of 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 purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company increased 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. Finally, TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the 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 directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the company’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 value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, 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. Insiders have sold 16,746 shares of company stock worth $2,727,971 in the last quarter. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $156.75 on Thursday. The company has a market capitalization of $288.89 billion, a P/E ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. 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 fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a 50-day simple moving average of $158.99 and a 200-day simple moving average of $154.88.

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, 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 return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 earnings per share. Equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 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.