61,703 Shares in Chevron Co. (NYSE:CVX) Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC bought a new position in Chevron Co. (NYSE:CVX) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 61,703 shares of the oil and gas company’s stock, valued at approximately $9,733,000.

A number of other large investors also recently added to or reduced their stakes in the business. American Capital Advisory LLC grew its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.9 %

CVX traded down $1.35 on Tuesday, hitting $152.98. The company had a trading volume of 5,202,132 shares, compared to its average volume of 7,959,804. The firm has a market cap of $281.94 billion, a P/E ratio of 14.22, a PEG ratio of 2.35 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 company’s fifty day moving average price is $158.21 and its 200 day moving average price is $155.01. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid 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 4.26%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CVX shares. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial boosted their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. TD Cowen lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were 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 $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 over the last three months. Company 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.