Tempus Wealth Planning LLC Raises Stake in Chevron Co. (NYSE:CVX)

Tempus Wealth Planning LLC lifted its stake in Chevron Co. (NYSE:CVX) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,064 shares of the oil and gas company’s stock after purchasing an additional 80 shares during the period. Tempus Wealth Planning LLC’s holdings in Chevron were worth $483,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CVX. Bare Financial Services Inc purchased a new stake in shares of Chevron in the 4th quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $33,000. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC increased its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 note on Tuesday, April 30th. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s 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 sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is owned by insiders.

Chevron Trading Down 0.0 %

Shares of Chevron stock opened at $156.71 on Friday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm’s 50 day simple moving average is $158.68 and its two-hundred day simple moving average is $154.90. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $288.81 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly 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 return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Analysts predict that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

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