Chevron Co. (NYSE:CVX) Holdings Lifted by Iams Wealth Management LLC

Iams Wealth Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 16.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,801 shares of the oil and gas company’s stock after acquiring an additional 1,702 shares during the quarter. Chevron accounts for about 1.1% of Iams Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding. Iams Wealth Management LLC’s holdings in Chevron were worth $1,798,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CVX. Bare Financial Services Inc purchased a new position in shares of Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron during the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter worth approximately $33,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC increased its position in Chevron by 264.9% during the fourth 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 last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. HSBC raised their target price 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. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing 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 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 completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last three months. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of CVX stock opened at $156.75 on Wednesday. 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 stock’s fifty day simple moving average is $159.11 and its 200 day simple moving average is $154.82. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a P/E/G 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, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.