1,260 Shares in Chevron Co. (NYSE:CVX) Acquired by Centricity Wealth Management LLC

Centricity Wealth Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,260 shares of the oil and gas company’s stock, valued at approximately $183,000.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Allspring Global Investments Holdings LLC raised its position in shares of Chevron by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after buying an additional 27,483 shares in the last quarter. Plan Group Financial LLC raised its holdings in Chevron by 25.8% during the third quarter. Plan Group Financial LLC now owns 8,530 shares of the oil and gas company’s stock worth $1,256,000 after purchasing an additional 1,747 shares in the last quarter. Meadow Creek Wealth Advisors LLC raised its holdings in Chevron by 8.1% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,632 shares of the oil and gas company’s stock worth $829,000 after purchasing an additional 424 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Chevron by 27.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 107,341 shares of the oil and gas company’s stock worth $15,808,000 after purchasing an additional 23,136 shares during the period. Finally, Greenleaf Trust increased its position in shares of Chevron by 3.1% during the 3rd quarter. Greenleaf Trust now owns 60,285 shares of the oil and gas company’s stock valued at $8,878,000 after purchasing an additional 1,830 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $158.89 on Friday. The stock’s fifty day simple moving average is $151.91 and its 200-day simple moving average is $150.91. The company has a market capitalization of $285.53 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.44 and a beta of 1.11. 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 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) 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 in the previous year, the firm posted $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CVX shares. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Company 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.