Liberty One Investment Management LLC Acquires 684 Shares of Chevron Co. (NYSE:CVX)

Liberty One Investment Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,443 shares of the oil and gas company’s stock after acquiring an additional 684 shares during the quarter. Liberty One Investment Management LLC’s holdings in Chevron were worth $2,520,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rebalance LLC bought a new position in Chevron in the fourth quarter worth about $26,000. NewSquare Capital LLC grew its stake in shares of Chevron by 52.3% during the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 67 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new stake in shares of Chevron during the first quarter worth about $33,000. HBC Financial Services PLLC purchased a new stake in shares of Chevron during the first quarter worth about $37,000. Finally, Worth Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $36,000. 68.87% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX opened at $167.21 on Friday. The firm has a market capitalization of $312.22 billion, a PE ratio of 10.60, a P/E/G ratio of 0.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.13. The business has a 50-day moving average of $159.75 and a two-hundred day moving average of $160.01. Chevron Co. has a 12 month low of $140.46 and a 12 month high of $189.68.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm had revenue of $48.90 billion during the quarter, compared to analyst estimates of $48 billion. During the same quarter last year, the firm earned $5.82 EPS. Chevron’s quarterly revenue was down 28.9% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 13.19 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Thursday, August 17th. Chevron’s dividend payout ratio is presently 38.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVX shares. StockNews.com started coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley upped their target price on Chevron from $197.00 to $198.00 and gave the company an “equal weight” rating in a research report on Friday, August 18th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $166.00 to $187.00 in a report on Monday, July 31st. Finally, Truist Financial boosted their price target on Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a report on Monday, July 31st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.28.

Insiders Place Their Bets

In related news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the transaction, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Chevron 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.