Prentice Wealth Management LLC Acquires 203 Shares of Chevron Co. (NYSE:CVX)

Prentice Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 7.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,122 shares of the oil and gas company’s stock after purchasing an additional 203 shares during the period. Prentice Wealth Management LLC’s holdings in Chevron were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $33,000. Cooksen Wealth LLC bought a new position in Chevron in the 4th quarter worth $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the vice president now owns 477 shares in the company, valued at approximately $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 company insiders.

Chevron Trading Down 1.5 %

NYSE CVX traded down $2.44 on Wednesday, hitting $156.02. 4,139,007 shares of the stock were exchanged, compared to its average volume of 8,040,844. 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 fifty day moving average price of $159.33 and a two-hundred day moving average price of $154.51. The firm has a market capitalization of $287.54 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.41 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The company had revenue of $48.72 billion during 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%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.55 earnings per share. Research analysts forecast that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVX shares. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler upped their target price 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. Finally, UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.