Wealthspire Advisors LLC Has $11.20 Million Stake in Chevron Co. (NYSE:CVX)

Wealthspire Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.6% in the first quarter, Holdings Channel reports. The institutional investor owned 70,974 shares of the oil and gas company’s stock after selling 1,886 shares during the period. Wealthspire Advisors LLC’s holdings in Chevron were worth $11,195,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CVX. Howard Wealth Management LLC acquired a new position in shares of Chevron in the first quarter valued at $205,000. Mystic Asset Management Inc. raised its stake in shares of Chevron by 4.7% in the 1st quarter. Mystic Asset Management Inc. now owns 19,687 shares of the oil and gas company’s stock valued at $3,105,000 after buying an additional 875 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Chevron by 5.4% during the 1st quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after acquiring an additional 22,047 shares during the period. Defender Capital LLC. acquired a new stake in shares of Chevron during the 1st quarter valued at about $631,000. Finally, AIA Group Ltd increased its stake in Chevron by 38.4% in the first quarter. AIA Group Ltd now owns 23,394 shares of the oil and gas company’s stock valued at $3,690,000 after acquiring an additional 6,493 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.2 %

CVX traded up $0.33 during mid-day trading on Friday, reaching $155.59. The stock had a trading volume of 6,446,316 shares, compared to its average volume of 6,742,573. The firm’s fifty day simple moving average is $157.75 and its two-hundred day simple moving average is $155.06. The stock has a market capitalization of $286.75 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.36 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.55 earnings per share. On average, equities analysts predict that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday. Finally, Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $187.06.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the 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 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 Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock valued at $2,727,971 over the last ninety days. Insiders own 0.20% of the company’s stock.

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.