Avidian Wealth Solutions LLC Purchases 2,462 Shares of Chevron Co. (NYSE:CVX)

Avidian Wealth Solutions LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 7.2% during the first quarter, HoldingsChannel.com reports. The fund owned 36,519 shares of the oil and gas company’s stock after buying an additional 2,462 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Chevron were worth $5,761,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CVX. Pacifica Partners Inc. lifted its position 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 purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC increased its stake in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group grew its position in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares during the last quarter. Mayfair Advisory Group LLC grew its position in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after acquiring an additional 65 shares during the last quarter. Finally, Penbrook Management LLC grew its position in shares of Chevron by 3.9% during the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’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 owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’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 completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,746 shares of company stock valued at $2,727,971. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Truist Financial lifted 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. Finally, UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Trading Up 1.4 %

NYSE:CVX traded up $2.15 on Wednesday, reaching $155.13. The company’s stock had a trading volume of 5,413,672 shares, compared to its average volume of 7,941,126. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a market cap of $285.90 billion, a PE ratio of 14.18, a PEG ratio of 2.34 and a beta of 1.10. The business’s 50-day moving average price is $158.04 and its two-hundred day moving average price is $155.03. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.55 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s dividend payout ratio is currently 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.