Chevron Co. (NYSE:CVX) Shares Purchased by BKM Wealth Management LLC

BKM Wealth Management LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 27.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,499 shares of the oil and gas company’s stock after buying an additional 2,887 shares during the quarter. Chevron accounts for about 0.9% of BKM Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. BKM Wealth Management LLC’s holdings in Chevron were worth $2,129,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Ariel Investments LLC purchased a new position in Chevron during the 3rd quarter worth approximately $1,654,000. Alps Advisors Inc. purchased a new position in Chevron during the 3rd quarter worth approximately $347,000. Evergreen Capital Management LLC grew its position in Chevron by 4.1% during the 3rd 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 grew its position in Chevron by 14.6% during the 3rd 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 in the last quarter. Finally, Elevatus Welath Management boosted its stake in shares of Chevron by 10.7% during the 3rd quarter. Elevatus Welath Management now owns 2,791 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on 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 directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Mizuho lifted their target price 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. Wells Fargo & Company lifted their target price 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. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Performance

NYSE:CVX opened at $156.52 on Tuesday. The firm’s 50-day moving average is $159.22 and its 200-day moving average is $154.78. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $288.46 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.55 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is currently 59.98%.

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.