Falcon Wealth Planning Has $330,000 Stock Position in Chevron Co. (NYSE:CVX)

Falcon Wealth Planning grew its stake in Chevron Co. (NYSE:CVX) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,111 shares of the oil and gas company’s stock after acquiring an additional 75 shares during the quarter. Falcon Wealth Planning’s holdings in Chevron were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Capital Advisory LLC boosted its position in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Cooksen Wealth LLC bought a new position in Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% in the fourth 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. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Trading Up 0.6 %

NYSE:CVX traded up $0.87 during trading hours on Wednesday, hitting $145.02. The stock had a trading volume of 3,632,342 shares, compared to its average volume of 7,884,884. The business’s 50 day moving average is $154.39 and its 200-day moving average is $156.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $267.27 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. Sell-side analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company upped their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $183.82.

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.