Nwam LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Nwam LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,940 shares of the oil and gas company’s stock after buying an additional 148 shares during the quarter. Nwam LLC’s holdings in Chevron were worth $3,178,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. Heritage Investors Management Corp grew its holdings in Chevron by 1.0% in the fourth quarter. Heritage Investors Management Corp now owns 161,661 shares of the oil and gas company’s stock worth $23,415,000 after purchasing an additional 1,549 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $297,000. NewEdge Wealth LLC grew its stake in shares of Chevron by 2.1% in the 4th quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company’s stock worth $8,296,000 after buying an additional 1,153 shares during the last quarter. Armstrong Fleming & Moore Inc grew its stake in shares of Chevron by 4.4% in the 4th quarter. Armstrong Fleming & Moore Inc now owns 12,762 shares of the oil and gas company’s stock worth $1,848,000 after buying an additional 540 shares during the last quarter. Finally, Fjell Capital LLC bought a new position in Chevron during the 4th quarter valued at approximately $890,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.9 %

Shares of CVX stock opened at $154.99 on Thursday. The stock has a market capitalization of $278.53 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.46 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. The firm’s 50 day moving average is $152.52 and its 200 day moving average is $151.31. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the previous year, the company earned $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared 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. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays dropped their price target 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. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

About Chevron

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.