Valley Wealth Managers Inc. Has $21.79 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Valley Wealth Managers Inc. grew its stake in Chevron Co. (NYSE:CVXFree Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,155 shares of the oil and gas company’s stock after acquiring an additional 1,263 shares during the period. Chevron accounts for approximately 1.6% of Valley Wealth Managers Inc.’s holdings, making the stock its 18th largest position. Valley Wealth Managers Inc.’s holdings in Chevron were worth $21,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Norges Bank bought a new stake in Chevron in the fourth quarter valued at approximately $2,902,007,000. Berkshire Hathaway Inc boosted 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 worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Capital World Investors boosted its position in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

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 approximately $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by company insiders.

Chevron Trading Up 0.2 %

Shares of NYSE:CVX traded up $0.26 during mid-day trading on Thursday, hitting $155.39. The company had a trading volume of 5,967,486 shares, compared to its average volume of 7,924,250. 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 Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a fifty day moving average price of $157.96 and a 200 day moving average price of $155.03. The company has a market capitalization of $286.38 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data 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. 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%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 earnings per share. As a group, research analysts forecast that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The business 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 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 currently 59.98%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Read Our Latest Stock Analysis on CVX

About Chevron

(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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