SHP Wealth Management Invests $744,000 in Chevron Corporation $CVX

SHP Wealth Management acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the 4th quarter, Holdings Channel reports. The fund acquired 4,881 shares of the oil and gas company’s stock, valued at approximately $744,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. S Harris Financial Group LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $244,000. EJMK Ventures LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $544,000. Targeted Financial Services LLC acquired a new stake in shares of Chevron in the fourth quarter worth $501,000. WMS Group LLC acquired a new stake in shares of Chevron in the fourth quarter worth $245,000. Finally, Tulsa Wealth Advisors INC bought a new position in Chevron during the fourth quarter worth $972,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Wells Fargo & Company upped their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. UBS Group boosted their price objective on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citigroup upped their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Scotiabank increased their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned 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 a consensus price target of $205.70.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, 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. Insiders sold 615,200 shares of company stock worth $118,022,760 over the last quarter. Company insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.1%

Shares of CVX opened at $173.51 on Friday. 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 company has a 50-day moving average price of $186.63 and a two-hundred day moving average price of $179.01. The stock has a market cap of $345.56 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the prior year, the company posted $2.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 15.88 EPS for the current fiscal 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 paid a $1.78 dividend. 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 payout ratio is currently 123.40%.

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.