CreativeOne Wealth LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

CreativeOne Wealth LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,767 shares of the oil and gas company's stock after acquiring an additional 2,494 shares during the period. CreativeOne Wealth LLC's holdings in Chevron were worth $5,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC raised its holdings in Chevron by 5.8% in the 3rd quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock valued at $211,000 after acquiring an additional 78 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Chevron by 9.0% in the third quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock valued at $503,000 after purchasing an additional 281 shares in the last quarter. Diamant Asset Management Inc. increased its holdings in shares of Chevron by 6.2% in the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock valued at $811,000 after purchasing an additional 320 shares during the last quarter. Wealthquest Corp lifted its position in Chevron by 2.3% during the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock worth $782,000 after buying an additional 118 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in shares of Chevron by 4.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock worth $3,254,000 after acquiring an additional 950 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a report on Friday. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $169.50.

Chevron Stock Performance

CVX stock traded down $0.77 on Tuesday, hitting $134.55. The company's stock had a trading volume of 9,318,593 shares, compared to its average volume of 7,894,054. The stock has a market cap of $236.88 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The firm has a 50 day moving average of $154.99 and a two-hundred day moving average of $153.82. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 quarter in the previous year, the firm earned $3.45 earnings per share. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.08%. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company's stock.

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.