PCG Wealth Advisors LLC Has $258,000 Stake in Chevron Co. (NYSE:CVX)

PCG Wealth Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 11.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635 shares of the oil and gas company’s stock after purchasing an additional 163 shares during the period. PCG Wealth Advisors LLC’s holdings in Chevron were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Chevron in the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc boosted its position in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors boosted its position in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after buying an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated 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 transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value 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. Over the last 90 days, insiders sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. HSBC raised their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Five 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 a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Price Performance

NYSE:CVX opened at $156.71 on Friday. 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 stock’s 50-day simple moving average is $158.85 and its 200 day simple moving average is $154.89. The company has a market cap of $288.81 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results 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 for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. 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.