Prospera Private Wealth LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Prospera Private Wealth LLC increased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 404.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,012 shares of the oil and gas company's stock after acquiring an additional 41,709 shares during the quarter. Chevron makes up about 1.4% of Prospera Private Wealth LLC's holdings, making the stock its 19th largest position. Prospera Private Wealth LLC's holdings in Chevron were worth $7,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors increased its stake in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its stake in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors boosted its holdings in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock valued at $2,036,846,000 after buying an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.5 %

Shares of NYSE CVX traded up $0.86 during midday trading on Wednesday, hitting $160.46. The company's stock had a trading volume of 1,806,214 shares, compared to its average volume of 7,630,975. The business's 50 day moving average is $150.23 and its two-hundred day moving average is $152.57. 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 $288.36 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio is currently 71.65%.

Analyst Ratings Changes

Several equities analysts recently commented on CVX shares. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a report on Friday, September 27th. UBS Group boosted their target price on Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target on the stock. Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Four 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, the company has a consensus rating of "Moderate Buy" and an average target price of $174.93.

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.