Diversify Wealth Management LLC Has $4.67 Million Stake in Chevron Co. (NYSE:CVX)

Diversify Wealth Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,483 shares of the oil and gas company's stock after purchasing an additional 10,319 shares during the quarter. Diversify Wealth Management LLC's holdings in Chevron were worth $4,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tacita Capital Inc lifted its position in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock worth $67,000 after buying an additional 65 shares in the last quarter. Wallace Capital Management Inc. lifted its position in shares of Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock worth $1,212,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after purchasing an additional 67 shares during the last quarter. S.A. Mason LLC increased its holdings in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock valued at $1,330,000 after purchasing an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock worth $201,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Raymond James upped their target price on shares of Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Chevron Stock Down 2.0 %

CVX traded down $3.31 during trading hours 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 quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock's 50-day moving average is $154.03 and its two-hundred day moving average is $151.04. The stock has a market cap of $284.23 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. Chevron's revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

About Chevron

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.