Baron Wealth Management LLC Sells 2,937 Shares of Chevron Corporation $CVX

Baron Wealth Management LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 52.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,611 shares of the oil and gas company’s stock after selling 2,937 shares during the quarter. Baron Wealth Management LLC’s holdings in Chevron were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group upped their target price on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Bank of America raised their price objective on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Scotiabank boosted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Performance

Shares of CVX stock opened at $173.51 on Monday. The company has a market capitalization of $345.56 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. 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’s 50-day moving average is $186.63 and its 200 day moving average is $179.20. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71.

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

Chevron Dividend Announcement

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

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.