Elite Wealth Management Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,176 shares of the oil and gas company’s stock after purchasing an additional 700 shares during the quarter. Elite Wealth Management Inc.’s holdings in Chevron were worth $362,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CVX. Earnest Partners LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $114,000. Advisors Preferred LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $110,000. Virtue Capital Management LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $128,000. Litman Gregory Asset Management LLC raised its holdings in shares of Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 975 shares in the last quarter. Finally, Fusion Family Wealth LLC raised its holdings in shares of Chevron by 192.6% during the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 838 shares in the last quarter. Institutional investors and hedge funds own 65.02% of the company’s stock.
In other news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $124.20, for a total transaction of $589,950.00. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at approximately $589,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the previous year, the company posted $0.77 EPS. Chevron’s quarterly revenue was up 22.5% compared to the same quarter last year. equities research analysts predict that Chevron Co. will post 8.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s payout ratio is 121.08%.
CVX has been the topic of several recent research reports. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Chevron in a report on Tuesday, July 31st. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Wells Fargo & Co increased their price target on Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a “neutral” rating and set a $145.00 price target on shares of Chevron in a report on Monday, July 2nd. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $138.49.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.
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