Prentice Wealth Management LLC Buys 203 Shares of Chevron Co. (NYSE:CVX)

Prentice Wealth Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,122 shares of the oil and gas company’s stock after buying an additional 203 shares during the quarter. Prentice Wealth Management LLC’s holdings in Chevron were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Renaissance Investment Group LLC increased its position in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Camelot Portfolios LLC acquired a new stake in Chevron in the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC boosted its stake in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. Lane & Associates LLC acquired a new stake in Chevron in the 1st quarter worth approximately $345,000. Finally, Guyasuta Investment Advisors Inc. boosted its stake in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company boosted their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, UBS Group upped their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 over the last three months. 0.20% of the stock is owned by insiders.

Chevron Trading Down 1.5 %

Shares of CVX stock traded down $2.44 during mid-day trading on Wednesday, hitting $156.02. 4,139,007 shares of the company’s stock were exchanged, compared to its average volume of 8,040,844. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a 50-day simple moving average of $159.33 and a two-hundred day simple moving average of $154.51. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market cap of $287.54 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating 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 firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the firm earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend 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.