LMG Wealth Partners LLC Raises Position in Chevron Co. (NYSE:CVX)

LMG Wealth Partners LLC grew its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,047 shares of the oil and gas company's stock after acquiring an additional 1,943 shares during the period. Chevron accounts for approximately 2.2% of LMG Wealth Partners LLC's investment portfolio, making the stock its 10th biggest holding. LMG Wealth Partners LLC's holdings in Chevron were worth $10,146,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Corps Capital Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $767,000. SNS Financial Group LLC acquired a new stake in Chevron during the 4th quarter worth about $210,000. Private Wealth Partners LLC grew its holdings in Chevron by 2.8% during the 4th quarter. Private Wealth Partners LLC now owns 196,308 shares of the oil and gas company's stock worth $28,433,000 after acquiring an additional 5,269 shares during the period. Sterling Financial Planning Inc. grew its holdings in Chevron by 16.3% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,866 shares of the oil and gas company's stock worth $270,000 after acquiring an additional 262 shares during the period. Finally, Parthenon LLC grew its holdings in Chevron by 1.3% during the 4th quarter. Parthenon LLC now owns 11,701 shares of the oil and gas company's stock worth $1,695,000 after acquiring an additional 150 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.2 %

CVX stock traded down $1.87 during mid-day trading on Friday, reaching $156.92. 6,686,883 shares of the company traded hands, compared to its average volume of 6,690,703. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The firm's 50 day moving average price is $151.97 and its 200 day moving average price is $151.05. 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 posted its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

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.