Allen Wealth Management LLC Acquires 811 Shares of Chevron Co. (NYSE:CVX)

Allen Wealth Management LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,101 shares of the oil and gas company’s stock after buying an additional 811 shares during the quarter. Chevron accounts for about 3.5% of Allen Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. Allen Wealth Management LLC’s holdings in Chevron were worth $3,926,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Meridian Financial Partners LLC purchased a new position in Chevron during the 2nd quarter worth approximately $2,133,000. Mason & Associates Inc grew its position in Chevron by 4.3% during the 2nd quarter. Mason & Associates Inc now owns 2,363 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 98 shares in the last quarter. CFM Wealth Partners LLC grew its position in Chevron by 7.6% during the 2nd quarter. CFM Wealth Partners LLC now owns 20,383 shares of the oil and gas company’s stock worth $3,188,000 after purchasing an additional 1,434 shares in the last quarter. Well Done LLC grew its position in Chevron by 2.3% during the 2nd quarter. Well Done LLC now owns 4,533 shares of the oil and gas company’s stock worth $709,000 after purchasing an additional 102 shares in the last quarter. Finally, Harrell Investment Partners LLC grew its position in Chevron by 6.6% during the 2nd quarter. Harrell Investment Partners LLC now owns 9,459 shares of the oil and gas company’s stock worth $1,480,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. TD Cowen lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.47 on Friday, hitting $147.27. 6,874,416 shares of the company were exchanged, compared to its average volume of 7,867,067. The company’s 50 day moving average price is $153.82 and its two-hundred day moving average price is $155.96. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $271.41 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 EPS. Research analysts expect that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s payout ratio is currently 59.98%.

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.