Spartan Wealth Advisory Services LLC Takes Position in Chevron Corporation $CVX

Spartan Wealth Advisory Services LLC bought a new stake in Chevron Corporation (NYSE:CVX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,061 shares of the oil and gas company’s stock, valued at approximately $1,047,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in Chevron in the 1st quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $27,000. Finally, Karpus Management Inc. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Citigroup lifted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Finally, Barclays raised their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $206.83.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Price Performance

Chevron stock opened at $187.39 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $373.21 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a 50 day simple moving average of $181.54 and a 200 day simple moving average of $182.66.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Chevron 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.