Advocacy Wealth Management Services LLC increased its stake in shares of Chevron Co. (NYSE: CVX – Get Rating) by 30.7% during the first quarter, HoldingsChannel.com reports. The firm owned 294 shares of the oil and gas company stock after buying an additional 69 shares during the period. Advocacy Wealth Management Services LLC’s holdings in Chevron were worth $ 48,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Avondale Wealth Management bought a new position in Chevron in the 4th quarter worth about $ 26,000. Rational Advisors LLC increased its stake in Chevron by 116.3% in the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company stock worth $ 26,000 after acquiring an additional 121 shares during the last quarter. Curi Wealth Management LLC bought a new position in Chevron in the 4th quarter worth about $ 30,000. Byrne Asset Management LLC bought a new position in shares of Chevron during the 4th quarter valued at about $ 36,000. Finally, West Bancorporation Inc. bought a new position in shares of Chevron during the 4th quarter valued at about $ 37,000. Institutional investors and hedge funds own 65.89% of the company stock.
In related news, Director Enrique Hernandez, Jr. sold 11,799 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 175.00, for a total transaction of $ 2,064,825.00. Following the completion of the transaction, the director now owns 24,281 shares of the company stock, valued at approximately $ 4,249,175. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wanda M. Austin sold 12,039 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $ 177.29, for a total value of $ 2,134,394.31. Following the transaction, the director now directly owns 3,543 shares of the company stock, valued at approximately $ 628,138.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,726 shares of company stock valued at $ 94,057,396. 0.32% of the stock is currently owned by company insiders.
NYSE CVX opened at $ 148.38 on Friday. The stock has a market cap of $ 291.54 billion, a P / E ratio of 13.95, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a 50 day simple moving average of $ 168.52 and a two-hundred day simple moving average of $ 148.95. Chevron Co. has a fifty-two week low of $ 92.86 and a fifty-two week high of $ 182.40.
Chevron (NYSE: CVX – Get Rating) last released its earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 EPS for the quarter, missing analysts’ consensus estimates of $ 3.44 by ($ 0.08). The firm had revenue of $ 54.37 billion during the quarter, compared to analysts’ expectations of $ 54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $ 0.90 EPS. Sell-side analysts predict that Chevron Co. will post 17.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were paid a $ 1.42 dividend. This represents a $ 5.68 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s payout ratio is presently 53.38%.
CVX has been the topic of several recent research reports. Raymond James increased their price objective on Chevron from $ 173.00 to $ 191.00 and gave the company an “outperform” rating in a research report on Monday, April 18th. Societe Generale lowered Chevron from a “buy” rating to a “hold” rating and set a $ 175.00 price objective on the stock. in a research report on Friday, May 20th. Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $ 160.00 to $ 165.00 in a research report on Thursday, April 21st. Citigroup increased their price objective on Chevron from $ 160.00 to $ 170.00 and gave the company a “neutral” rating in a research report on Thursday, May 19th. Finally, Barclays increased their target price on Chevron from $ 183.00 to $ 196.00 and gave the company an “overweight” rating in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Buy” and an average target price of $ 170.48.
About Chevron: (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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