Wills Financial Group Inc. Boosts Position in Chevron Co. (NYSE:CVX)

Wills Financial Group Inc. increased its position in Chevron Co. (NYSE:CVX - Free Report) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,871 shares of the oil and gas company's stock after acquiring an additional 1,867 shares during the period. Chevron makes up about 2.5% of Wills Financial Group Inc.'s portfolio, making the stock its 12th biggest holding. Wills Financial Group Inc.'s holdings in Chevron were worth $5,775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 1.0 %

Shares of NYSE:CVX traded up $1.36 during midday trading on Monday, reaching $140.09. 6,701,612 shares of the company's stock were exchanged, compared to its average volume of 7,933,433. The stock has a market cap of $246.64 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm's 50 day simple moving average is $151.70 and its two-hundred day simple moving average is $152.99. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period last year, the company earned $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an "outperform" 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 for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $165.71.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.