Laurel Wealth Advisors LLC Has $3.71 Million Position in Chevron Co. (NYSE:CVX)

Laurel Wealth Advisors LLC lowered its position in Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,896 shares of the oil and gas company’s stock after selling 94 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Chevron were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Sweet Financial Partners LLC increased its stake in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the period. Strategic Investment Advisors MI increased its stake in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the period. Regent Peak Wealth Advisors LLC increased its stake in Chevron by 1.4% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 68 shares during the period. Octavia Wealth Advisors LLC increased its stake in Chevron by 1.3% in the 4th 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 period. Finally, Investment Partners LTD. increased its stake in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 0.4 %

Chevron stock traded up $0.61 during mid-day trading on Friday, hitting $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $156.58 and its two-hundred day moving average price is $151.83. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market capitalization of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insiders Place Their Bets

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

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.