Chevron Co. (NYSE:CVX) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 83.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,350 shares of the oil and gas company’s stock after buying an additional 8,325 shares during the quarter. Synergy Asset Management LLC’s holdings in Chevron were worth $2,895,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVX. Pacifica Partners Inc. boosted its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group boosted its holdings in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the last quarter. Mayfair Advisory Group LLC boosted its holdings in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after purchasing an additional 65 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Chevron by 0.7% during the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock worth $1,489,000 after purchasing an additional 66 shares during the last quarter. Finally, Octavia Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is currently owned by insiders.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $156.75 on Wednesday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a market capitalization of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The business’s 50-day moving average is $159.11 and its two-hundred day moving average is $154.82.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Chevron 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.