Foster Victor Wealth Advisors LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Foster Victor Wealth Advisors LLC grew its holdings in Chevron Co. (NYSE:CVX) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,601 shares of the oil and gas company’s stock after buying an additional 4,861 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Chevron were worth $9,502,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.3 %

NYSE CVX opened at $155.79 on Thursday. The company has a market cap of $279.97 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50-day moving average of $153.67 and a 200-day moving average of $151.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. Chevron’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group increased their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Raymond James boosted their price target on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $175.27.

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.