Chevron Co. (NYSE:CVX) Shares Acquired by GDS Wealth Management

GDS Wealth Management raised its holdings in shares of Chevron Co. (NYSE:CVX) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,094 shares of the oil and gas company’s stock after acquiring an additional 447 shares during the quarter. GDS Wealth Management’s holdings in Chevron were worth $312,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Windsor Advisory Group LLC boosted its position in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the period. Renaissance Investment Group LLC increased its stake in Chevron by 12.7% in 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 in the last quarter. Altrius Capital Management Inc increased its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the 4th quarter valued at approximately $254,000. Finally, Kapstone Financial Advisors LLC increased 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 valued at $626,000 after purchasing an additional 211 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.8 %

NYSE:CVX traded up $2.95 during mid-day trading on Thursday, hitting $165.49. The company had a trading volume of 6,682,814 shares, compared to its average volume of 8,426,376. The business has a fifty day simple moving average of $157.82 and a 200-day simple moving average of $151.53. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a market capitalization of $305.66 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Finally, Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The stock was 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 $416,761.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,247 shares of company stock valued at $2,154,164. 0.20% of the stock is currently owned by insiders.

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.