Wealth Advisors of Tampa Bay LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Wealth Advisors of Tampa Bay LLC boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,635 shares of the oil and gas company's stock after buying an additional 4,533 shares during the period. Wealth Advisors of Tampa Bay LLC's holdings in Chevron were worth $2,844,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX traded up $0.56 on Tuesday, hitting $140.71. 4,636,556 shares of the company's stock traded hands, compared to its average volume of 8,420,120. The company's 50 day simple moving average is $157.04 and its 200-day simple moving average is $154.21. 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 one year low of $135.37 and a one year high of $168.96. The firm has a market cap of $247.74 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm posted $3.45 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.86%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated 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 directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Barclays decreased their target price on shares of 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 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Truist Financial lowered 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $173.53.

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.