Wedmont Private Capital Acquires 2,678 Shares of Chevron Co. (NYSE:CVX)

Wedmont Private Capital lifted its holdings in Chevron Co. (NYSE:CVX) by 26.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,966 shares of the oil and gas company’s stock after buying an additional 2,678 shares during the quarter. Wedmont Private Capital’s holdings in Chevron were worth $2,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter valued at $30,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $33,000. Cooksen Wealth LLC acquired a new stake in Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.9 %

Shares of Chevron stock opened at $155.28 on Friday. The company has a market capitalization of $286.18 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.33 and a beta of 1.12. The business has a fifty day simple moving average of $159.25 and a two-hundred day simple moving average of $154.13. 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.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on 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 directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Wells Fargo & Company upped their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Truist Financial raised their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target 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.