Cornerstone Wealth Group LLC Has $7.29 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Cornerstone Wealth Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 55.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,236 shares of the oil and gas company’s stock after acquiring an additional 16,406 shares during the period. Cornerstone Wealth Group LLC’s holdings in Chevron were worth $7,293,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVX. Bare Financial Services Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter worth approximately $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 buying an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.1 %

CVX stock opened at $156.42 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a fifty day moving average price of $159.22 and a two-hundred day moving average price of $154.78. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

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, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the business posted $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 13.15 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 given a dividend of $1.63 per share. 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 (DPR) is 59.98%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial raised their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. UBS Group raised their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Finally, Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.