Chevron Co. (NYSE:CVX) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its position in Chevron Co. (NYSE:CVX - Free Report) by 315.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,725 shares of the oil and gas company's stock after acquiring an additional 80,250 shares during the period. Modern Wealth Management LLC's holdings in Chevron were worth $16,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Nicholas Company Inc. raised its stake in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Chevron during the 4th quarter worth about $594,000. Unified Investment Management purchased a new stake in Chevron during the 4th quarter valued at about $729,000. Finally, ING Groep NV increased its holdings in shares of Chevron by 3,942.6% in the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company's stock valued at $29,113,000 after purchasing an additional 196,026 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.6 %

CVX traded up $0.91 during trading hours on Tuesday, hitting $165.93. 7,867,285 shares of the company's stock were exchanged, compared to its average volume of 7,343,123. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $292.14 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The firm has a 50 day moving average of $156.49 and a 200 day moving average of $152.81.

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Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 period last year, the company earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

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.