Hemington Wealth Management Buys 273 Shares of Chevron Co. (NYSE:CVX)

Hemington Wealth Management grew its stake in shares of Chevron Co. (NYSE:CVX) by 18.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,732 shares of the oil and gas company’s stock after purchasing an additional 273 shares during the quarter. Hemington Wealth Management’s holdings in Chevron were worth $250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter valued at about $29,000. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $39,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 1.6 %

Shares of NYSE:CVX opened at $154.91 on Thursday. The stock has a market cap of $278.39 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11. The firm has a fifty day moving average price of $151.99 and a 200 day moving average price of $150.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 in the previous year, the company posted $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVX shares. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

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.