Evolve Private Wealth LLC Acquires 11,303 Shares of Chevron Corporation $CVX

Evolve Private Wealth LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 78.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,753 shares of the oil and gas company’s stock after acquiring an additional 11,303 shares during the period. Evolve Private Wealth LLC’s holdings in Chevron were worth $5,328,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVX. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Karpus Management Inc. bought a new position in shares of Chevron in the 4th quarter worth $27,000. Finally, Quattro Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth $27,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, April 9th. Morgan Stanley raised their price target on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Barclays lifted their price target on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Finally, Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Stock Performance

Chevron stock opened at $173.51 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $345.56 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71. The firm has a 50-day moving average of $186.63 and a 200-day moving average of $179.20.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 EPS. Sell-side analysts expect that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is 123.40%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock worth $118,022,760 over the last three months. Insiders own 0.56% of the company’s stock.

Chevron Company 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.