Chevron Co. (NYSE:CVX) Shares Acquired by Salomon & Ludwin LLC

Salomon & Ludwin LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,987 shares of the oil and gas company’s stock after buying an additional 600 shares during the quarter. Salomon & Ludwin LLC’s holdings in Chevron were worth $787,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. American Capital Advisory LLC increased its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new stake in Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $33,000. Finally, Cooksen Wealth LLC purchased a new stake in Chevron during the 4th quarter worth approximately $40,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial boosted their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Wells Fargo & Company upped their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 over the last three months. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $1.35 during trading on Tuesday, hitting $152.98. The stock had a trading volume of 5,251,184 shares, compared to its average volume of 7,960,182. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a market cap of $281.94 billion, a P/E ratio of 14.22, a PEG ratio of 2.35 and a beta of 1.10. The business has a fifty day moving average of $158.21 and a two-hundred day moving average of $155.01. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.55 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.