Hubbell Strickland Wealth Management LLC Purchases 158 Shares of Chevron Co. (NYSE:CVX)

Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,429 shares of the oil and gas company’s stock after buying an additional 158 shares during the quarter. Chevron makes up about 0.8% of Hubbell Strickland Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Hubbell Strickland Wealth Management LLC’s holdings in Chevron were worth $1,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kowal Investment Group LLC increased its stake in shares of Chevron by 45.3% in the 1st quarter. Kowal Investment Group LLC now owns 10,941 shares of the oil and gas company’s stock worth $1,726,000 after acquiring an additional 3,413 shares in the last quarter. Horizon Wealth Management LLC increased its stake in shares of Chevron by 395.5% in the 1st quarter. Horizon Wealth Management LLC now owns 12,735 shares of the oil and gas company’s stock worth $2,009,000 after acquiring an additional 10,165 shares in the last quarter. BKM Wealth Management LLC increased its stake in shares of Chevron by 27.2% in the 1st quarter. BKM Wealth Management LLC now owns 13,499 shares of the oil and gas company’s stock worth $2,129,000 after acquiring an additional 2,887 shares in the last quarter. Aviance Capital Partners LLC increased its stake in shares of Chevron by 151.0% in the 1st quarter. Aviance Capital Partners LLC now owns 12,965 shares of the oil and gas company’s stock worth $2,045,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in shares of Chevron by 6.5% in the 1st quarter. Mirador Capital Partners LP now owns 104,428 shares of the oil and gas company’s stock worth $16,473,000 after acquiring an additional 6,408 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now 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 at this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now 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 at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron 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 sale, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

CVX opened at $156.52 on Tuesday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. 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. The company’s 50 day moving average is $159.22 and its 200 day moving average is $154.78. 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 released its earnings results 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 company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the business earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid 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 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.