Red Door Wealth Management LLC Has $9.43 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Red Door Wealth Management LLC increased its holdings in Chevron Co. (NYSE:CVX) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,788 shares of the oil and gas company’s stock after purchasing an additional 12,825 shares during the period. Chevron makes up 1.8% of Red Door Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Red Door Wealth Management LLC’s holdings in Chevron were worth $9,431,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Norges Bank acquired a new position in Chevron in the fourth quarter worth about $2,902,007,000. Berkshire Hathaway Inc grew its stake in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors grew its stake in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after buying an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock worth $3,176,223. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.1 %

CVX opened at $156.42 on Monday. The firm’s fifty day moving average is $159.22 and its two-hundred day moving average is $154.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a market cap of $288.28 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $3.55 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.