Sovereign Financial Group Inc. Purchases 127 Shares of Chevron Co. (NYSE:CVX)

Sovereign Financial Group Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,303 shares of the oil and gas company’s stock after acquiring an additional 127 shares during the period. Sovereign Financial Group Inc.’s holdings in Chevron were worth $521,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westfield Capital Management Co. LP lifted its stake in Chevron by 49.5% in the third quarter. Westfield Capital Management Co. LP now owns 35,560 shares of the oil and gas company’s stock valued at $5,996,000 after purchasing an additional 11,768 shares during the last quarter. Rench Wealth Management Inc. raised its stake in shares of Chevron by 0.9% in the third quarter. Rench Wealth Management Inc. now owns 23,015 shares of the oil and gas company’s stock valued at $3,881,000 after buying an additional 215 shares during the period. Reuter James Wealth Management LLC lifted its position in shares of Chevron by 26.5% during the 3rd quarter. Reuter James Wealth Management LLC now owns 8,421 shares of the oil and gas company’s stock valued at $1,420,000 after buying an additional 1,762 shares during the last quarter. Private Advisory Group LLC bought a new position in shares of Chevron during the 3rd quarter worth $261,000. Finally, Tower Research Capital LLC TRC increased its holdings in Chevron by 139.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 76,765 shares of the oil and gas company’s stock worth $12,944,000 after acquiring an additional 44,719 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $156.36 on Friday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm’s fifty day moving average price is $159.32 and its 200-day moving average price is $154.52. The stock has a market cap of $288.17 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. 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 (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, topping analysts’ consensus estimates of $2.84 by $0.09. The firm 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 company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.55 EPS. On average, equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal 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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now 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 ninety days, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, TD Cowen lifted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.