Washburn Capital Management Inc. Has $1.08 Million Stock Position in Chevron Co. (NYSE:CVX)

Washburn Capital Management Inc. grew its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 206.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,660 shares of the oil and gas company’s stock after purchasing an additional 4,485 shares during the period. Chevron makes up 0.7% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Washburn Capital Management Inc.’s holdings in Chevron were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Qube Research & Technologies Ltd raised its holdings in shares of Chevron by 123.3% in the 4th quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock worth $15,927,000 after acquiring an additional 74,933 shares during the last quarter. AGF Investments LLC raised its holdings in shares of Chevron by 58.9% in the 4th quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock worth $347,000 after acquiring an additional 1,096 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Chevron by 11.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 130,640 shares of the oil and gas company’s stock worth $15,331,000 after acquiring an additional 12,923 shares during the last quarter. Valmark Advisers Inc. raised its holdings in shares of Chevron by 22.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,195 shares of the oil and gas company’s stock worth $1,079,000 after acquiring an additional 1,689 shares during the last quarter. Finally, TrueWealth Advisors LLC raised its holdings in shares of Chevron by 7.4% in the 4th quarter. TrueWealth Advisors LLC now owns 7,597 shares of the oil and gas company’s stock worth $892,000 after acquiring an additional 526 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Chevron Stock Up 1.7 %

CVX opened at $153.64 on Friday. The company has a 50 day moving average of $154.37 and a 200 day moving average of $155.35. The company has a market cap of $301.87 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 20.19%. Chevron’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same period last year, the firm earned $1.71 EPS. On average, sell-side analysts expect that Chevron Co. will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVX shares. Truist Financial lowered their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and decreased their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. Raymond James increased their price objective on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Cowen decreased their price objective on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Finally, Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Buying and Selling at Chevron

In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at approximately $125,662.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock valued at $67,010,843 in the last three months. Company insiders own 0.32% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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