Falcon Wealth Planning Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Falcon Wealth Planning lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,111 shares of the oil and gas company’s stock after acquiring an additional 75 shares during the period. Falcon Wealth Planning’s holdings in Chevron were worth $330,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC raised its stake in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the last quarter. Marks Group Wealth Management Inc grew its position in Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 65 shares during the last quarter. Ellenbecker Investment Group increased its stake in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the period. Finally, Mayfair Advisory Group LLC increased its stake in Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron 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 transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

Chevron stock traded up $0.87 during midday trading on Wednesday, hitting $145.02. 3,632,342 shares of the stock were exchanged, compared to its average volume of 7,884,884. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a 50 day moving average price of $154.39 and a two-hundred day moving average price of $156.08. The firm has a market cap of $267.27 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Truist Financial dropped their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.