Client 1ST Advisory Group LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Client 1ST Advisory Group LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,547 shares of the oil and gas company's stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target for the company. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Finally, Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Chevron Stock Down 2.0 %

NYSE:CVX traded down $3.31 during mid-day trading on Tuesday, hitting $158.16. 10,127,118 shares of the company's stock were exchanged, compared to its average volume of 8,066,192. The company has a market cap of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. 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 Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average price of $154.03 and a 200 day moving average price of $151.04.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron's dividend payout ratio is 71.65%.

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.