RDA Financial Network decreased its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 8.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,036 shares of the oil and gas company’s stock after selling 382 shares during the period. RDA Financial Network’s holdings in Chevron were worth $657,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Avondale Wealth Management acquired a new position in Chevron during the fourth quarter valued at approximately $26,000. Rational Advisors LLC grew its holdings in Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 121 shares during the period. Curi Wealth Management LLC acquired a new position in Chevron during the fourth quarter valued at approximately $30,000. Byrne Asset Management LLC acquired a new position in Chevron during the fourth quarter valued at approximately $36,000. Finally, West Bancorporation Inc. acquired a new position in Chevron during the fourth quarter valued at approximately $37,000. Institutional investors own 65.89% of the company’s stock.
Shares of CVX opened at $142.43 on Friday. The firm has a market capitalization of $279.85 billion, a PE ratio of 13.39, a PEG ratio of 0.64 and a beta of 1.09. The company’s 50-day moving average is $166.83 and its 200-day moving average is $149.63. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). The company had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. Analysts predict that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is presently 53.38%.
In related news, Director Enrique Hernandez, Jr. sold 5,805 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total value of $928,800.00. Following the transaction, the director now directly owns 22,978 shares in the company, valued at $3,676,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eimear P. Bonner sold 478 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $169.21, for a total transaction of $80,882.38. Following the completion of the transaction, the vice president now owns 358 shares in the company, valued at $60,577.18. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock worth $94,057,396 over the last three months. Insiders own 0.32% of the company’s stock.
Several research firms have recently weighed in on CVX. UBS Group upped their price target on shares of Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. Wells Fargo & Company upped their price target on shares of Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Truist Financial reduced their price target on shares of Chevron from $186.00 to $181.00 in a report on Monday, May 2nd. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price target for the company. in a report on Friday, March 11th. Finally, Citigroup upped their price target on shares of Chevron from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.57.
About Chevron (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
See Also
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Get Rating).
Want More Great Investing Ideas?
Receive News & Ratings for Chevron Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Chevron and related companies with MarketBeat.com’s FREE daily email newsletter.
