Targeted Financial Services LLC Invests $501,000 in Chevron Corporation $CVX

Targeted Financial Services LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 3,281 shares of the oil and gas company’s stock, valued at approximately $501,000. Chevron accounts for 0.4% of Targeted Financial Services LLC’s portfolio, making the stock its 28th biggest holding.

Other large investors have also recently bought and sold shares of the company. Core Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the 4th quarter worth about $27,000. Karpus Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $27,000. Finally, Quattro Advisors LLC purchased a new position in Chevron during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho raised their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Citigroup upped their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Piper Sandler raised their price target on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.70.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 615,200 shares of company stock valued at $118,022,760. Insiders own 0.56% of the company’s stock.

Chevron Trading Down 0.1%

NYSE CVX opened at $173.51 on Friday. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $186.63 and a 200 day moving average price of $179.01. The stock has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter last year, the business posted $2.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.1%. Chevron’s dividend payout ratio is 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.