Ables Iannone Moore & Associates Inc. Purchases New Shares in Chevron Co. (NYSE:CVX)

Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Chevron Co. (NYSE:CVXFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,516 shares of the oil and gas company’s stock, valued at approximately $1,121,000. Chevron makes up about 0.9% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Loomis Sayles & Co. L P grew its holdings in Chevron by 10.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,381 shares of the oil and gas company’s stock worth $401,000 after acquiring an additional 223 shares in the last quarter. Nordea Investment Management AB grew its holdings in Chevron by 2.6% during the 3rd quarter. Nordea Investment Management AB now owns 418,637 shares of the oil and gas company’s stock worth $70,578,000 after acquiring an additional 10,804 shares in the last quarter. WestHill Financial Advisors Inc. grew its holdings in Chevron by 6.8% during the 3rd quarter. WestHill Financial Advisors Inc. now owns 6,604 shares of the oil and gas company’s stock worth $1,114,000 after acquiring an additional 419 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Chevron in the 3rd quarter valued at about $2,082,000. Finally, Glenview Trust co boosted its holdings in shares of Chevron by 3.2% in the 3rd quarter. Glenview Trust co now owns 222,251 shares of the oil and gas company’s stock valued at $37,476,000 after buying an additional 6,795 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 over the last three months. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.4 %

CVX traded up $0.62 on Monday, hitting $153.19. The company had a trading volume of 6,319,131 shares, compared to its average volume of 7,984,851. The firm has a market cap of $282.32 billion, a P/E ratio of 14.09, a PEG ratio of 2.27 and a beta of 1.12. 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 $159.95 and its 200 day moving average price is $153.92. 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:CVXGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company 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 revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.55 earnings per share. As a group, equities analysts expect that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVX shares. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial raised their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Read Our Latest Report on Chevron

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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