RFG Bristol Wealth Advisors LLC purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,527 shares of the oil and gas company's stock, valued at approximately $1,090,000.
A number of other institutional investors and hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter worth approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC lifted its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.
Insider Buying and Selling at Chevron
In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.
Wall Street Analysts Forecast Growth
CVX has been the subject of a number of analyst reports. 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 report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.
Get Our Latest Stock Analysis on Chevron
Chevron Price Performance
Chevron stock traded down $1.89 during mid-day trading on Wednesday, hitting $166.62. 7,025,073 shares of the company were exchanged, compared to its average volume of 7,620,161. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. 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 business has a fifty day moving average of $157.63 and a 200 day moving average of $154.08. The company has a market capitalization of $293.35 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.
Chevron (NYSE:CVX - Get Free Report) last released its 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 last year, the business posted $3.45 EPS. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.
Chevron Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.11%. Chevron's payout ratio is 70.37%.
About Chevron
(
Free Report)
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.
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