Sandro Wealth Management LLC Buys Shares of 3,327 Chevron Corporation $CVX

Sandro Wealth Management LLC purchased a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,327 shares of the oil and gas company’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Midwest Capital Advisors LLC acquired a new stake in Chevron during the first quarter worth $25,000. Main Street Group LTD acquired a new position in shares of Chevron in the 1st quarter valued at $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter valued at $26,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $26,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron during the 4th quarter worth $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $4,919,596. This represents a 17.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,196,212 shares of company stock valued at $231,819,366 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVX shares. Piper Sandler started coverage on Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. TD Cowen upped their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Trading Up 1.2%

Shares of NYSE CVX opened at $199.99 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $395.13 billion, a PE ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock has a fifty day simple moving average of $183.30 and a 200-day simple moving average of $186.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the company earned $1.77 EPS. Chevron’s revenue was up 57.4% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron’s payout ratio is 68.26%.

Chevron Company Profile

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.