CCG Wealth Management LLC Makes New $1.02 Million Investment in Chevron Co. (NYSE:CVX)

CCG Wealth Management LLC bought a new position in Chevron Co. (NYSE:CVX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,486 shares of the oil and gas company’s stock, valued at approximately $1,023,000. Chevron makes up about 0.6% of CCG Wealth Management LLC’s portfolio, making the stock its 29th largest holding.

A number of other large investors have also made changes to their positions in the company. Ariel Investments LLC purchased a new stake in Chevron in the 3rd quarter worth about $1,654,000. Alps Advisors Inc. purchased a new stake in shares of Chevron in the third quarter worth approximately $347,000. Evergreen Capital Management LLC lifted its position in shares of Chevron by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 40,993 shares of the oil and gas company’s stock worth $6,912,000 after purchasing an additional 1,605 shares in the last quarter. Ellerson Group Inc. ADV boosted its holdings in shares of Chevron by 14.6% during the third quarter. Ellerson Group Inc. ADV now owns 3,307 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 422 shares during the period. Finally, Elevatus Welath Management grew its position in Chevron by 10.7% during the third quarter. Elevatus Welath Management now owns 2,791 shares of the oil and gas company’s stock valued at $471,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

CVX stock opened at $156.52 on Tuesday. 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 50-day moving average of $159.22 and a two-hundred day moving average of $154.78. The stock has a market capitalization of $288.46 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during 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 firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors 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 dividend payout ratio (DPR) is currently 59.98%.

Insider Activity at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CVX. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target 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.