Marotta Asset Management Purchases New Shares in Chevron Co. (NYSE:CVX)

Marotta Asset Management purchased a new stake in Chevron Co. (NYSE:CVX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,831 shares of the oil and gas company’s stock, valued at approximately $288,000.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Miracle Mile Advisors LLC grew its stake in shares of Chevron by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 19,980 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 60 shares in the last quarter. First American Trust FSB grew its stake in Chevron by 1.4% during the 1st quarter. First American Trust FSB now owns 4,469 shares of the oil and gas company’s stock valued at $729,000 after purchasing an additional 61 shares in the last quarter. Waddell & Associates LLC grew its stake in Chevron by 0.5% during the 4th quarter. Waddell & Associates LLC now owns 12,447 shares of the oil and gas company’s stock valued at $2,234,000 after purchasing an additional 62 shares in the last quarter. Zullo Investment Group Inc. grew its stake in Chevron by 1.7% during the 4th quarter. Zullo Investment Group Inc. now owns 3,740 shares of the oil and gas company’s stock valued at $671,000 after purchasing an additional 63 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in Chevron by 1.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 3,474 shares of the oil and gas company’s stock valued at $599,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVX shares. Piper Sandler lowered their price objective on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. HSBC raised their price objective on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. StockNews.com began coverage on Chevron in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley lifted their target price on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Finally, Truist Financial lifted their target price on Chevron from $163.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.28.

Insider Buying and Selling

In related 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 value 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares in the company, valued at approximately $987,444. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of Chevron stock opened at $167.23 on Friday. The business’s fifty day moving average price is $160.27 and its two-hundred day moving average price is $160.10. 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 company has a market capitalization of $312.26 billion, a P/E ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, topping 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 company had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same quarter in the previous year, the business earned $5.82 EPS. The company’s quarterly revenue was down 28.9% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 13.19 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, August 17th. Chevron’s dividend payout ratio is presently 38.30%.

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.