Chevron Co. (NYSE:CVX) Holdings Lifted by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. American Capital Advisory LLC grew its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron during the 4th quarter worth about $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth about $30,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth about $33,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Chevron during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CVX shares. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. HSBC upped their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

Chevron stock traded up $2.15 during trading hours on Wednesday, hitting $155.13. The stock had a trading volume of 5,413,672 shares, compared to its average volume of 7,941,126. The company has a 50-day moving average of $158.04 and a two-hundred day moving average of $155.03. 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 company has a market cap of $285.90 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

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, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 13.18 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 given a dividend of $1.63 per share. 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 (DPR) is presently 59.98%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the 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 in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the 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 in the company, valued at approximately $4,581,279. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the 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 owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 in the last three months. Insiders own 0.20% of the company’s stock.

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.