Cetera Investment Advisers Purchases 33,315 Shares of Chevron Corporation $CVX

Cetera Investment Advisers grew its position in shares of Chevron Corporation (NYSE:CVX) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,198,367 shares of the oil and gas company’s stock after purchasing an additional 33,315 shares during the quarter. Cetera Investment Advisers’ holdings in Chevron were worth $247,942,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dakota Wealth Management grew its position in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after acquiring an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $10,167,000. Curtis Advisory Group LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $1,381,000. Indivisible Partners purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $1,923,000. Finally, Cypress Wealth Services LLC grew its holdings in shares of Chevron by 64.0% in the fourth quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock worth $2,529,000 after purchasing an additional 6,475 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVX. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Finally, Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.62.

Chevron Stock Performance

Shares of CVX stock opened at $193.04 on Thursday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company’s fifty day moving average price is $181.88 and its 200-day moving average price is $183.48. The stock has a market cap of $384.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 0.67 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron’s payout ratio is currently 123.40%.

Insiders Place Their Bets

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

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: TD Cowen lifted its price target on Chevron to $200 from $197, signaling continued analyst confidence despite keeping a hold rating. TD Cowen price target update
• Positive Sentiment: Chevron is being highlighted in dividend-focused articles as a steady income name, which may support demand from long-term investors. Dividend Aristocrats article
• Positive Sentiment: Rising oil prices amid geopolitical uncertainty are favorable for Chevron’s upstream business and could improve near-term earnings. Oil prices jump article
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that could limit output temporarily but is not necessarily a lasting operational issue. Production shutdown article
• Neutral Sentiment: Investors are awaiting Chevron’s second-quarter earnings, with expectations for a strong profit rebound; the report could become a major stock catalyst. Earnings preview article

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.