Brendel Financial Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

Brendel Financial Advisors LLC bought a new position in Chevron Co. (NYSE:CVX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,092 shares of the oil and gas company’s stock, valued at approximately $1,266,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacifica Partners Inc. boosted its stake in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC grew its holdings in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares in the last quarter. Ellenbecker Investment Group boosted its position in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares during the last quarter. Mayfair Advisory Group LLC lifted its position in 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 valued at $1,484,000 after purchasing an additional 65 shares during the last quarter. Finally, Penbrook Management LLC grew its position in Chevron by 3.9% in 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 in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded down $0.78 during trading hours on Tuesday, reaching $144.24. The company had a trading volume of 4,494,240 shares, compared to its average volume of 7,891,026. The firm has a market cap of $265.83 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business’s 50 day moving average price is $154.62 and its 200-day moving average price is $156.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.64% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $3.08 EPS. Research analysts forecast that Chevron Co. will post 12.3 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.52%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several research firms have commented on CVX. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Barclays decreased their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. HSBC raised their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.