Chevron Co. (NYSE:CVX) Stock Position Boosted by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its stake in Chevron Co. (NYSE:CVX) by 3.1% in the fourth quarter, HoldingsChannel reports. The fund owned 130,947 shares of the oil and gas company’s stock after purchasing an additional 3,956 shares during the quarter. RWA Wealth Partners LLC’s holdings in Chevron were worth $18,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC lifted 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 valued at $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $166.06 on Friday. The firm has a market cap of $292.37 billion, a P/E ratio of 17.08, a PEG 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 $168.96. The stock’s 50-day moving average is $157.10 and its two-hundred day moving average is $153.49.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 quarter in the prior year, the business posted $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share 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 4.12%. 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%.

Insiders Place Their Bets

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. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.