320 Shares in Chevron Co. (NYSE:CVX) Purchased by Newton One Investments LLC

Newton One Investments LLC acquired a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 320 shares of the oil and gas company’s stock, valued at approximately $46,000.

Several other institutional investors have also added to or reduced their stakes in the company. Czech National Bank increased its position in shares of Chevron by 6.1% during the third quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock worth $51,028,000 after acquiring an additional 19,878 shares during the period. Miracle Mile Advisors LLC increased its holdings in Chevron by 1.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock worth $3,933,000 after purchasing an additional 372 shares during the period. Heartwood Wealth Advisors LLC raised its position in Chevron by 4.4% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 6,187 shares of the oil and gas company’s stock valued at $911,000 after purchasing an additional 263 shares in the last quarter. Chapin Davis Inc. lifted its holdings in shares of Chevron by 4.9% in the 3rd quarter. Chapin Davis Inc. now owns 31,752 shares of the oil and gas company’s stock worth $4,676,000 after buying an additional 1,491 shares during the period. Finally, Exeter Financial LLC grew its position in shares of Chevron by 0.6% during the 3rd quarter. Exeter Financial LLC now owns 25,943 shares of the oil and gas company’s stock worth $3,821,000 after buying an additional 167 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $153.14 on Wednesday. The company has a market cap of $275.20 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. 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 firm’s 50-day moving average price is $152.97 and its 200-day moving average price is $150.93. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business posted $3.45 EPS. As a group, equities analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Piper Sandler cut their price objective 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. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday. Four investment 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, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

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.