Chevron Co. (NYSE:CVX) Shares Purchased by Centric Wealth Management

Centric Wealth Management increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 133.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,242 shares of the oil and gas company's stock after buying an additional 9,296 shares during the period. Centric Wealth Management's holdings in Chevron were worth $2,353,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes 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. bought a new position in shares of Chevron in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 6.5 %

NYSE CVX traded down $10.15 during trading on Friday, reaching $145.97. 7,810,260 shares of the company's stock traded hands, compared to its average volume of 8,135,141. The company's 50 day simple moving average is $157.63 and its two-hundred day simple moving average is $154.10. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The firm has a market cap of $257.00 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the previous year, the business earned $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.69%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. 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. UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business's 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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; 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.