EWG Elevate Inc. Acquires 110 Shares of Chevron Co. (NYSE:CVX)

EWG Elevate Inc. increased its stake in Chevron Co. (NYSE:CVXFree Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,670 shares of the oil and gas company’s stock after purchasing an additional 110 shares during the quarter. EWG Elevate Inc.’s holdings in Chevron were worth $263,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bare Financial Services Inc bought a new position in shares of Chevron during the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. Cooksen Wealth LLC purchased a new position in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock traded up $3.32 during mid-day trading on Thursday, reaching $156.65. 8,334,985 shares of the company traded hands, compared to its average volume of 7,978,973. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm’s fifty day moving average is $159.32 and its two-hundred day moving average is $154.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market capitalization of $288.70 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued 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 dividend yield of 4.16%. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Get Our Latest Stock Analysis on Chevron

Insider Activity

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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