Foster Victor Wealth Advisors LLC Has $9.50 Million Stock Position in Chevron Co. (NYSE:CVX)

Foster Victor Wealth Advisors LLC boosted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,601 shares of the oil and gas company's stock after purchasing an additional 4,861 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Chevron were worth $9,502,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter valued at about $31,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $47,000. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Scotiabank reduced their price target 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. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Chevron Stock Performance

CVX traded up $1.19 on Thursday, reaching $156.88. The company had a trading volume of 1,804,135 shares, compared to its average volume of 7,300,691. The company's fifty day moving average is $153.56 and its 200 day moving average is $151.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $281.92 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.37 and a beta of 1.12. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.05 earnings per share. As a group, analysts predict that Chevron Co. will post 10.18 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. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is 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.