Chevron Co. (NYSE:CVX) Holdings Raised by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 315.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,725 shares of the oil and gas company’s stock after buying an additional 80,250 shares during the period. Modern Wealth Management LLC’s holdings in Chevron were worth $16,469,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC lifted its holdings in shares of Chevron by 10.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 138,787 shares of the oil and gas company’s stock valued at $20,102,000 after buying an additional 13,141 shares during the period. Dudley Capital Management LLC lifted its holdings in Chevron by 0.9% in the 4th quarter. Dudley Capital Management LLC now owns 43,920 shares of the oil and gas company’s stock valued at $6,361,000 after acquiring an additional 388 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Chevron in the 4th quarter worth approximately $1,892,000. Lynx Investment Advisory raised its holdings in shares of Chevron by 1.7% in the 4th quarter. Lynx Investment Advisory now owns 5,026 shares of the oil and gas company’s stock worth $728,000 after purchasing an additional 85 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its stake in Chevron by 16.8% during the fourth quarter. ICW Investment Advisors LLC now owns 14,997 shares of the oil and gas company’s stock valued at $2,172,000 after purchasing an additional 2,159 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

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 stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report 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, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Up 0.2 %

CVX opened at $165.10 on Tuesday. The company has a market capitalization of $290.68 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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 fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50-day moving average of $156.49 and a 200-day moving average of $152.81.

Chevron (NYSE:CVX) last posted its 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

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.