Grant Private Wealth Management Inc Acquires New Position in Chevron Co. (NYSE:CVX)

Grant Private Wealth Management Inc acquired a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,997 shares of the oil and gas company’s stock, valued at approximately $289,000.

A number of other institutional investors have also recently bought and sold shares of CVX. Allen Wealth Management LLC lifted its stake in Chevron by 2.2% in the fourth quarter. Allen Wealth Management LLC now owns 27,649 shares of the oil and gas company’s stock valued at $4,005,000 after buying an additional 582 shares during the period. Arete Wealth Advisors LLC increased its stake in shares of Chevron by 28.0% in the 4th quarter. Arete Wealth Advisors LLC now owns 20,620 shares of the oil and gas company’s stock valued at $2,987,000 after acquiring an additional 4,508 shares during the last quarter. World Investment Advisors increased its stake in shares of Chevron by 35.4% in the 4th quarter. World Investment Advisors now owns 64,389 shares of the oil and gas company’s stock valued at $9,326,000 after acquiring an additional 16,846 shares during the last quarter. Nicolet Advisory Services LLC raised its position in shares of Chevron by 14.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,800 shares of the oil and gas company’s stock valued at $1,654,000 after acquiring an additional 1,348 shares during the period. Finally, Martin Worley Group bought a new position in Chevron during the 4th quarter worth approximately $492,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CVX shares. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

NYSE CVX opened at $166.62 on Thursday. The firm’s 50 day moving average is $157.63 and its 200-day moving average is $154.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $293.35 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96.

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 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 in the prior year, the company posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.11%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.