Consolidated Planning Corp Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Consolidated Planning Corp boosted its stake in shares of Chevron Co. (NYSE:CVX) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,778 shares of the oil and gas company’s stock after purchasing an additional 1,402 shares during the period. Consolidated Planning Corp’s holdings in Chevron were worth $4,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $33,000. Legacy Financial Group LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc raised its stake in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Wells Fargo & Company raised their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded up $0.61 during trading hours on Friday, reaching $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company’s 50 day simple moving average is $156.58 and its 200 day simple moving average is $151.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market cap of $308.10 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

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, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the firm posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is currently 57.39%.

About Chevron

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.