Premier Path Wealth Partners LLC Has $1.82 Million Stake in Chevron Co. (NYSE:CVX)

Premier Path Wealth Partners LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,536 shares of the oil and gas company's stock after purchasing an additional 2,419 shares during the quarter. Premier Path Wealth Partners LLC's holdings in Chevron were worth $1,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. State Street Corp grew its stake in shares of Chevron by 0.6% in 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC grew its position in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock valued at $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. raised its stake in Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.4 %

Shares of CVX traded up $2.16 on Friday, reaching $161.54. 9,233,657 shares of the company's stock were exchanged, compared to its average volume of 7,835,055. The business has a 50 day moving average price of $153.93 and a two-hundred day moving average price of $151.05. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. 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 (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price for the company. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $175.27.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company 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.