Prospera Financial Services Inc raised its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,846 shares of the oil and gas company’s stock after purchasing an additional 2,689 shares during the quarter. Prospera Financial Services Inc’s holdings in Chevron were worth $23,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of CVX. Strategic Wealth Advisors LLC bought a new position in Chevron in the 4th quarter valued at $33,000. Daytona Street Capital LLC bought a new position in Chevron in the 4th quarter valued at $44,000. Maseco LLP bought a new position in Chevron in the 4th quarter valued at $49,000. Turning Point Benefit Group Inc. bought a new position in Chevron in the 3rd quarter valued at $49,000. Finally, High Point Wealth Management LLC bought a new position in Chevron in the 4th quarter valued at $53,000. Institutional investors own 72.42% of the company’s stock.
Insiders Place Their Bets
In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,179,699 shares of company stock worth $224,675,517 over the last quarter. Insiders own 0.56% of the company’s stock.
Key Stories Impacting Chevron
- Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
- Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
- Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
- Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
- Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale
Chevron Stock Up 0.3%
CVX stock opened at $191.51 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market capitalization of $381.42 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 0.64 and a beta of 0.51. Chevron Corporation has a fifty-two week low of $134.06 and a fifty-two week high of $214.71. The stock has a fifty day moving average of $193.54 and a 200-day moving average of $174.60.
Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter last year, the company earned $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Mizuho upped their price objective on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Citigroup upped their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Sanford C. Bernstein reduced their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Argus set a $203.00 price target on Chevron in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price target on shares of Chevron in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.22.
Chevron Profile
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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