Salomon & Ludwin LLC Buys New Stake in Chevron Co. (NYSE:CVX)

Salomon & Ludwin LLC bought a new stake in Chevron Co. (NYSE:CVX – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The firm bought 1,614 shares of the oil and gas company’s stock, valued at approximately $263,000.

Other large investors also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP acquired a new position in Chevron during the first quarter worth $25,000. Joseph P. Lucia & Associates LLC acquired a new position in Chevron during the first quarter worth $30,000. Joseph Group Capital Management acquired a new position in Chevron during the fourth quarter worth $1,105,000. Rational Advisors LLC grew its holdings 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 worth $26,000 after buying an additional 121 shares in the last quarter. Finally, Steward Financial Group LLC grew its holdings in shares of Chevron by 932.0% during the first quarter. Steward Financial Group LLC now owns 258 shares of the oil and gas company’s stock worth $42,000 after buying an additional 233 shares in the last quarter. 65.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group upped their target price on shares of Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. Cowen dropped their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup dropped their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 13th. Finally, Barclays upped their target price on shares of Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Transactions at Chevron

In other news, insider David A. Inchausti sold 5,600 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 39,773 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $173.99, for a total value of $6,920,104.27. Following the sale, the director now owns 22,978 shares of the company’s stock, valued at $3,997,942.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total transaction of $923,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is currently owned by corporate insiders.

Chevron Trading Up 1.7 %

NYSE CVX opened at $153.64 on Friday. The firm’s 50-day moving average is $154.37 and its two-hundred day 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 debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a market capitalization of $301.87 billion, a P/E ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. Chevron’s revenue for the quarter was up 82.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Dividend Announcement

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 given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.70%. Chevron’s dividend payout ratio is presently 37.89%.

Chevron Company Profile

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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.