WESPAC Advisors SoCal LLC Has $219,000 Position in Chevron Co. (NYSE:CVX)

WESPAC Advisors SoCal LLC lessened its stake in Chevron Co. (NYSE:CVX) by 48.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,392 shares of the oil and gas company’s stock after selling 1,322 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Chevron were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth $33,000. Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its stake in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $157.09 on Tuesday. The stock has a market cap of $289.51 billion, a PE ratio of 14.40, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock’s 50 day simple moving average is $159.22 and its 200-day simple moving average is $154.78. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial boosted 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. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.95.

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.