Chevron Co. (NYSE:CVX) Stake Boosted by Activest Wealth Management

Activest Wealth Management raised its holdings in shares of Chevron Co. (NYSE:CVX) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,551 shares of the oil and gas company’s stock after purchasing an additional 74 shares during the period. Activest Wealth Management’s holdings in Chevron were worth $369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marietta Wealth Management LLC lifted its holdings in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC raised its position in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC boosted its position in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares during the period. Finally, State Street Corp grew its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler reduced 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. Finally, Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $152.54 on Monday. The company has a market capitalization of $274.13 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $152.21 and a two-hundred day moving average of $150.85.

Chevron (NYSE:CVX) last issued 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm earned $3.45 earnings per share. As a group, analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

About Chevron

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.