Naviter Wealth LLC Buys 7,089 Shares of Chevron Co. (NYSE:CVX)

Naviter Wealth LLC grew its stake in Chevron Co. (NYSE:CVX) by 74.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,593 shares of the oil and gas company’s stock after purchasing an additional 7,089 shares during the quarter. Naviter Wealth LLC’s holdings in Chevron were worth $2,617,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVX. Alps Advisors Inc. acquired a new position in shares of Chevron in the third quarter valued at about $347,000. KPP Advisory Services LLC acquired a new position in shares of Chevron in the third quarter valued at about $632,000. Kelly Lawrence W & Associates Inc. CA grew its stake in shares of Chevron by 0.6% in the third quarter. Kelly Lawrence W & Associates Inc. CA now owns 21,257 shares of the oil and gas company’s stock valued at $3,584,000 after acquiring an additional 124 shares in the last quarter. KADENSA CAPITAL Ltd acquired a new position in shares of Chevron in the third quarter valued at about $13,956,000. Finally, Seven Eight Capital LP acquired a new position in shares of Chevron in the third quarter valued at about $1,826,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company increased their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Mizuho increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial increased their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Five investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Stock Up 0.1 %

Shares of NYSE CVX opened at $156.75 on Wednesday. The company has a 50 day simple moving average of $159.11 and a 200 day simple moving average of $154.82. The firm has a market cap of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued 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 4.16%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’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 of the company’s stock, valued at approximately $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 quarter. 0.20% of the stock is owned by insiders.

About Chevron

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.