Chevron Co. (NYSE:CVX) Stake Boosted by HB Wealth Management LLC

HB Wealth Management LLC grew its position in Chevron Co. (NYSE:CVX - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,518 shares of the oil and gas company's stock after acquiring an additional 12,605 shares during the quarter. HB Wealth Management LLC's holdings in Chevron were worth $22,235,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 100 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Raymond James upped their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. 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 report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen 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 price target of $175.27.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm'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 owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.

Chevron Trading Up 1.4 %

CVX traded up $2.16 during midday trading on Friday, hitting $161.54. The company's stock had a trading volume of 9,233,657 shares, compared to its average volume of 7,835,055. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a 50-day moving average price of $153.93 and a two-hundred day moving average price of $151.05. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is currently 71.65%.

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.