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Chevron Co. (NYSE:CVX) Shares Bought by Sugarloaf Wealth Management LLC

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Sugarloaf Wealth Management LLC grew its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 11.4% in the first quarter, HoldingsChannel reports. The fund owned 3,926 shares of the oil and gas company’s stock after buying an additional 403 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Chevron were worth $639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bell Bank increased its stake in shares of Chevron by 12.1% during the 1st quarter. Bell Bank now owns 2,788 shares of the oil and gas company’s stock valued at $454,000 after acquiring an additional 300 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Chevron by 2.6% during the 1st quarter. Wesbanco Bank Inc. now owns 250,785 shares of the oil and gas company’s stock worth $40,836,000 after purchasing an additional 6,429 shares during the period. Violich Capital Management Inc. grew its holdings in shares of Chevron by 0.3% during the 1st quarter. Violich Capital Management Inc. now owns 67,725 shares of the oil and gas company’s stock worth $11,028,000 after purchasing an additional 196 shares during the period. Grant GrossMendelsohn LLC purchased a new stake in shares of Chevron during the 1st quarter worth about $280,000. Finally, Radnor Capital Management LLC grew its holdings in shares of Chevron by 0.6% during the 1st quarter. Radnor Capital Management LLC now owns 19,111 shares of the oil and gas company’s stock worth $3,112,000 after purchasing an additional 111 shares during the period. 65.89% of the stock is owned by institutional investors.

In other news, VP Eimear P. Bonner sold 68,032 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $165.00, for a total transaction of $11,225,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares in the company, valued at $628,138.47. The disclosure for this sale can be found here. Insiders have sold a total of 561,726 shares of company stock valued at $94,057,396 in the last 90 days. Insiders own 0.32% of the company’s stock.

CVX has been the subject of a number of research reports. Societe Generale cut Chevron from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a report on Friday, May 20th. Cowen decreased their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Truist Financial decreased their price target on Chevron from $181.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, June 28th. Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. Finally, Credit Suisse Group upped their target price on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.85.

Shares of NYSE:CVX opened at $141.51 on Tuesday. The company’s fifty day moving average is $162.31 and its two-hundred day moving average is $152.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The stock has a market capitalization of $278.04 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.61 and a beta of 1.14.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $54.37 billion for the quarter, compared to analyst estimates of $54.96 billion. During the same quarter last year, the company earned $0.90 EPS. Chevron’s revenue was up 69.8% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 17.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio (DPR) is 53.38%.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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