9258 Wealth Management LLC Sells 95 Shares of Chevron Co. (NYSE:CVX)

9258 Wealth Management LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,439 shares of the oil and gas company’s stock after selling 95 shares during the quarter. 9258 Wealth Management LLC’s holdings in Chevron were worth $2,120,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVX. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Chevron during the 3rd quarter worth $293,000. Wellington Management Group LLP raised its position in Chevron by 13.2% during the third quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock valued at $612,164,000 after purchasing an additional 423,863 shares in the last quarter. Fragasso Group Inc. acquired a new position in shares of Chevron during the 3rd quarter worth $210,000. VisionPoint Advisory Group LLC raised its stake in Chevron by 46.0% during the third quarter. VisionPoint Advisory Group LLC now owns 489 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 154 shares in the last quarter. Finally, Financial Insights Inc. bought a new position in shares of Chevron in the third quarter worth about $484,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Piper Sandler increased 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. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. UBS Group boosted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Truist Financial lifted their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

NYSE CVX traded up $0.13 during trading on Thursday, hitting $155.26. 8,264,848 shares of the company’s stock traded hands, compared to its average volume of 7,932,986. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The stock has a market capitalization of $286.14 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.34 and a beta of 1.10. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The business has a 50 day moving average of $157.96 and a 200-day moving average of $155.03.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the company earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Chevron 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.