Avidian Wealth Enterprises LLC Buys 82 Shares of Chevron Co. (NYSE:CVX)

Avidian Wealth Enterprises LLC grew its position in Chevron Co. (NYSE:CVX) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,562 shares of the oil and gas company’s stock after purchasing an additional 82 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Chevron were worth $6,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Kentucky Trust Co acquired a new stake in Chevron in the 4th quarter valued at $2,790,000. Gladstone Institutional Advisory LLC grew its holdings in shares of Chevron by 6.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 52,625 shares of the oil and gas company’s stock worth $7,622,000 after purchasing an additional 3,384 shares during the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in Chevron by 4.3% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 3,730 shares of the oil and gas company’s stock valued at $540,000 after purchasing an additional 155 shares during the last quarter. TFB Advisors LLC boosted its position in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares in the last quarter. Finally, Indiana Trust & Investment Management Co increased its holdings in shares of Chevron by 1.6% during the fourth quarter. Indiana Trust & Investment Management Co now owns 7,092 shares of the oil and gas company’s stock worth $1,027,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.1 %

NYSE:CVX opened at $157.43 on Wednesday. The stock has a 50-day simple moving average of $152.08 and a 200 day simple moving average of $150.81. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market cap of $282.91 billion, a PE ratio of 16.20, a PEG ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm earned $3.45 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm 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 is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.34%. Chevron’s payout ratio is 67.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVX shares. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James dropped their price target 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. Finally, 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on 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. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.