Collaborative Fund Advisors LLC Takes $753,000 Position in Chevron Corporation $CVX

Collaborative Fund Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,639 shares of the oil and gas company’s stock, valued at approximately $753,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Chevron in the 4th quarter worth $3,727,586,000. State Street Corp grew its position in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Chevron by 822.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares in the last quarter. Finally, Amundi boosted its stake in Chevron by 41.8% during the third quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after buying an additional 3,464,058 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE:CVX opened at $168.14 on Tuesday. The firm has a market capitalization of $334.87 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 0.57 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a 50 day simple moving average of $183.31 and a 200-day simple moving average of $180.61. Chevron Corporation has a 1 year low of $145.58 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating 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 firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the company posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 15.52 EPS for the current year.

Chevron Announces Dividend

The company also recently announced 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 of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. Chevron’s dividend payout ratio is currently 123.40%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Piper Sandler raised their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Friday, March 20th. Finally, Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by insiders.

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.