Woodard & Co. Asset Management Group Inc. ADV Boosts Position in Chevron Co. (NYSE:CVX)

Woodard & Co. Asset Management Group Inc. ADV raised its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,330 shares of the oil and gas company’s stock after buying an additional 492 shares during the quarter. Chevron comprises 0.9% of Woodard & Co. Asset Management Group Inc. ADV’s portfolio, making the stock its 21st largest holding. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Chevron were worth $2,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC boosted its stake in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares in the last quarter. GQG Partners LLC boosted its stake in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC boosted its stake in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CVX. Citigroup cut their target price on Chevron from $180.00 to $170.00 in a research note on Tuesday, July 11th. StockNews.com started coverage on Chevron in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Mizuho upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $205.00 to $209.00 in a research report on Wednesday, August 16th. Piper Sandler lowered their price objective on Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Finally, Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.28.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the sale, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the transaction, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Chevron Stock Up 0.4 %

NYSE CVX opened at $167.23 on Friday. The company has a market capitalization of $312.26 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $159.75 and its 200-day moving average price is $160.02. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. The company had revenue of $48.90 billion during the quarter, compared to analysts’ expectations of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. Chevron’s revenue was down 28.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.82 EPS. On average, equities research analysts predict that Chevron Co. will post 13.19 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, August 17th. Chevron’s payout ratio is 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.