Chevron Co. (NYSE:CVX) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in Chevron Co. (NYSE:CVX) by 33.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,554 shares of the oil and gas company’s stock after acquiring an additional 16,180 shares during the quarter. Apollon Wealth Management LLC’s holdings in Chevron were worth $9,629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management purchased a new position in Chevron during the third quarter worth about $26,000. Bare Financial Services Inc purchased a new stake in Chevron in the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $33,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Chevron in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 completion of the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron 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 transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,247 shares of company stock worth $2,154,164. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $0.34 during trading on Tuesday, reaching $162.64. 6,868,786 shares of the company’s stock were exchanged, compared to its average volume of 8,465,725. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company’s fifty day moving average price is $157.41 and its 200-day moving average price is $151.48. 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 firm has a market cap of $300.40 billion, a PE ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Chevron Company 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.