Burling Wealth Partners LLC Makes New $2.37 Million Investment in Chevron Co. (NYSE:CVX)

Burling Wealth Partners LLC purchased a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,378 shares of the oil and gas company's stock, valued at approximately $2,372,000.

A number of other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $171.00 to $152.00 in a report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $165.71.

Chevron Stock Down 0.4 %

Chevron stock opened at $136.70 on Thursday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $240.68 billion, a PE ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.93. The company's 50-day moving average is $152.37 and its 200-day moving average is $153.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the firm earned $3.45 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. 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.

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