Cove Private Wealth LLC Buys Shares of 9,215 Chevron Co. (NYSE:CVX)

Cove Private Wealth LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,215 shares of the oil and gas company’s stock, valued at approximately $1,375,000. Chevron accounts for 1.3% of Cove Private Wealth LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently added to or reduced their stakes in the company. Wahed Invest LLC raised its stake in Chevron by 6.1% during the 4th quarter. Wahed Invest LLC now owns 29,398 shares of the oil and gas company’s stock valued at $4,385,000 after purchasing an additional 1,689 shares during the period. Red Mountain Financial LLC purchased a new position in shares of Chevron during the 4th quarter valued at $466,000. ICA Group Wealth Management LLC grew its holdings in shares of Chevron by 3.3% during the 4th quarter. ICA Group Wealth Management LLC now owns 15,549 shares of the oil and gas company’s stock valued at $2,319,000 after acquiring an additional 493 shares in the last quarter. Objective Capital Management LLC grew its holdings in shares of Chevron by 3.1% during the 4th quarter. Objective Capital Management LLC now owns 2,456 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 75 shares in the last quarter. Finally, SageView Advisory Group LLC grew its holdings in shares of Chevron by 91.6% during the 4th quarter. SageView Advisory Group LLC now owns 22,847 shares of the oil and gas company’s stock valued at $3,430,000 after acquiring an additional 10,924 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock valued at $3,176,223. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.4 %

Chevron stock opened at $153.23 on Tuesday. The firm has a fifty day moving average price of $159.78 and a two-hundred day moving average price of $153.99. The firm has a market cap of $282.40 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 2.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.55 earnings per share. As a group, analysts forecast that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Raymond James boosted 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. HSBC boosted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron 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.