Cascade Wealth Advisors Inc Takes Position in Chevron Co. (NYSE:CVX)

Cascade Wealth Advisors Inc bought a new stake in Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,524 shares of the oil and gas company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bare Financial Services Inc acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its holdings in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial raised their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’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 owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the company’s 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 transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last quarter. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

CVX stock opened at $156.00 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $287.50 billion, a PE ratio of 14.35, a P/E/G ratio of 2.41 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The business’s fifty day moving average price is $159.33 and its 200 day moving average price is $154.51.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.55 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.18%. Chevron’s dividend payout ratio (DPR) is 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.