Chevron Co. (NYSE:CVX) Stake Boosted by Waterway Wealth Management LLC

Waterway Wealth Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 28.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,555 shares of the oil and gas company’s stock after purchasing an additional 1,229 shares during the quarter. Chevron accounts for about 0.4% of Waterway Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Waterway Wealth Management LLC’s holdings in Chevron were worth $876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc bought a new stake in Chevron in the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $33,000. Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its stake in 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 buying an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.1 %

Shares of CVX opened at $156.42 on Monday. The business’s 50-day moving average price is $159.22 and its 200 day moving average price is $154.78. The stock has a market capitalization of $288.28 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for 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%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. Analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.