FRG Family Wealth Advisors LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

FRG Family Wealth Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,984 shares of the oil and gas company’s stock after buying an additional 200 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Chevron were worth $1,300,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. Your Advocates Ltd. LLP purchased a new stake in Chevron during the first quarter valued at about $25,000. Rational Advisors LLC raised its stake in shares of Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 121 shares during the last quarter. Curi Wealth Management LLC bought a new position in shares of Chevron during the fourth quarter valued at about $30,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Chevron during the first quarter valued at about $30,000. Finally, Landmark Wealth Management LLC bought a new position in shares of Chevron during the first quarter valued at about $34,000. 65.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Bank of America upped their price objective on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Truist Financial lowered their price objective on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. Raymond James upped their price objective on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. Finally, Citigroup lowered their price objective on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Chevron Trading Up 1.7 %

Chevron stock opened at $153.64 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $154.37 and its two-hundred day simple moving average is $155.35. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The company has a market capitalization of $301.87 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The company’s revenue for the quarter was up 82.9% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s payout ratio is currently 37.89%.

Insider Activity

In other news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares of the company’s stock, valued at $628,138.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the transaction, the executive vice president now directly owns 788 shares in the company, valued at $125,662.36. The disclosure for this sale can be found here. Insiders have sold a total of 399,043 shares of company stock valued at $67,010,843 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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