JPL Wealth Management LLC Takes Position in Chevron Co. (NYSE:CVX)

JPL Wealth Management LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,694 shares of the oil and gas company's stock, valued at approximately $6,039,000. Chevron accounts for approximately 1.7% of JPL Wealth Management LLC's holdings, making the stock its 11th biggest position.

Several other hedge funds have also recently made changes to their positions in CVX. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter worth about $30,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth about $31,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.13.

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Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Up 0.6 %

CVX stock traded up $0.89 during trading on Thursday, hitting $153.56. 9,021,373 shares of the company traded hands, compared to its average volume of 7,700,014. The firm has a market capitalization of $270.35 billion, a PE ratio of 15.80, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a 50-day moving average of $154.85 and a 200-day moving average of $151.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the firm earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

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