Crestmont Private Wealth LLC Invests $617,000 in Chevron Co. (NYSE:CVX)

Crestmont Private Wealth LLC acquired a new position in shares of Chevron Co. (NYSE:CVXGet Rating) in the second quarter, HoldingsChannel.com reports. The firm acquired 4,261 shares of the oil and gas company’s stock, valued at approximately $617,000. Chevron makes up about 0.6% of Crestmont Private Wealth LLC’s holdings, making the stock its 10th largest position.

Other large investors also recently modified their holdings of the company. Your Advocates Ltd. LLP acquired a new stake in Chevron in the 1st quarter valued at about $25,000. Cordant Inc. acquired a new stake in Chevron in the 1st quarter valued at about $29,000. Joseph P. Lucia & Associates LLC acquired a new stake in Chevron in the 1st quarter valued at about $30,000. Landmark Wealth Management LLC acquired a new stake in Chevron in the 1st quarter valued at about $34,000. Finally, Byrne Asset Management LLC acquired a new stake in Chevron in the 4th quarter valued at about $36,000. 69.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at $574,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chevron news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $154.89 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $304.33 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.60 and a beta of 1.15. The firm’s 50 day simple moving average is $155.74 and its 200 day simple moving average is $160.31. Chevron Co. has a 1 year low of $97.75 and a 1 year high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. As a group, research analysts expect that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. Chevron’s dividend payout ratio is 37.89%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. Citigroup lowered their price target on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Piper Sandler increased their price target on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Bank of America increased their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Morgan Stanley increased their price target on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $169.20.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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