Valeo Financial Advisors LLC Acquires 1,704 Shares of Chevron Co. (NYSE:CVX)

Valeo Financial Advisors LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,996 shares of the oil and gas company’s stock after buying an additional 1,704 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Chevron were worth $7,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CVX. Carret Asset Management LLC raised its holdings in shares of Chevron by 2.1% in the 1st quarter. Carret Asset Management LLC now owns 82,532 shares of the oil and gas company’s stock worth $13,019,000 after acquiring an additional 1,712 shares during the last quarter. Monument Capital Management lifted its position in shares of Chevron by 22.6% during the 1st quarter. Monument Capital Management now owns 6,795 shares of the oil and gas company’s stock worth $1,072,000 after buying an additional 1,253 shares in the last quarter. Sloy Dahl & Holst LLC lifted its holdings in Chevron by 3.4% during the first quarter. Sloy Dahl & Holst LLC now owns 4,087 shares of the oil and gas company’s stock worth $645,000 after acquiring an additional 135 shares during the period. Tower Wealth Partners Inc. boosted its holdings in shares of Chevron by 3.5% in the 1st quarter. Tower Wealth Partners Inc. now owns 3,727 shares of the oil and gas company’s stock worth $588,000 after buying an additional 126 shares during the last quarter. Finally, Silverlake Wealth Management LLC boosted its stake in Chevron by 2.3% in the first quarter. Silverlake Wealth Management LLC now owns 10,026 shares of the oil and gas company’s stock valued at $1,581,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chevron news, 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 value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,746 shares of company stock valued at $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. HSBC increased 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. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Truist Financial upped their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Performance

Shares of CVX opened at $156.75 on Thursday. 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 Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization 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. The company has a 50-day simple moving average of $158.99 and a two-hundred day simple moving average of $154.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping 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 business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 earnings per share. On average, analysts anticipate that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 4.16%. Chevron’s dividend payout ratio is presently 59.98%.

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.