Fragasso Group Inc. Purchases New Position in Chevron Co. (NYSE:CVX)

Fragasso Group Inc. purchased a new stake in Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,410 shares of the oil and gas company’s stock, valued at approximately $222,000.

Other institutional investors have also bought and sold shares of the company. Ellenbecker Investment Group boosted its stake 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 worth $686,000 after purchasing an additional 65 shares in the last quarter. Octavia Wealth Advisors LLC boosted its stake in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares in the last quarter. Investment Partners LTD. boosted its stake in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares in the last quarter. Certified Advisory Corp boosted its stake in Chevron by 0.4% in the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock worth $2,404,000 after purchasing an additional 68 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its stake in Chevron by 2.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock worth $509,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.9 %

NYSE CVX opened at $155.28 on Friday. The stock has a 50-day simple moving average of $159.25 and a 200 day simple moving average of $154.21. The company has a market capitalization of $286.18 billion, a PE ratio of 14.29, a P/E/G ratio of 2.33 and a beta of 1.12. 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 Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last released 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The firm’s revenue 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Truist Financial boosted their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated 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 directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at $45,540. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $3,176,223 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

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.