Optimum Investment Advisors Purchases 101 Shares of Chevron Co. (NYSE:CVX)

Optimum Investment Advisors lifted its position in Chevron Co. (NYSE:CVX) by 1.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,987 shares of the oil and gas company’s stock after purchasing an additional 101 shares during the period. Optimum Investment Advisors’ holdings in Chevron were worth $944,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc lifted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the period. Morgan Stanley lifted its position in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after buying an additional 1,999,332 shares during the period. Finally, Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth about $2,902,007,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVX shares. Truist Financial lifted their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, 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. In the last three months, insiders have sold 19,546 shares of company stock valued at $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX traded down $1.36 during trading hours on Friday, reaching $155.28. The company’s stock had a trading volume of 21,292,090 shares, compared to its average volume of 6,185,036. The firm’s 50-day moving average price is $159.25 and its 200-day moving average price is $154.13. The company has a quick ratio of 0.93, a current ratio of 1.23 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 company has a market capitalization of $286.18 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.33 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 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 company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio 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.