3,226 Shares in Chevron Corporation $CVX Purchased by Redwood Family Wealth LLC

Redwood Family Wealth LLC purchased a new position in Chevron Corporation (NYSE:CVX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,226 shares of the oil and gas company’s stock, valued at approximately $492,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter valued at approximately $26,000. Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth approximately $27,000. Basso Capital Management L.P. bought a new stake in Chevron during the fourth quarter worth approximately $27,000. Finally, Quattro Advisors LLC bought a new stake in Chevron during the fourth quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.1%

Shares of NYSE:CVX opened at $173.51 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 cap of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The firm has a 50 day simple moving average of $186.63 and a 200 day simple moving average of $179.01.

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

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Morgan Stanley boosted their target price on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, Piper Sandler upped their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.70.

Insider Buying and Selling at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s 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 transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is currently owned by insiders.

About Chevron

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.