ACT Wealth Management LLC Has $641,000 Position in Chevron Co. (NYSE:CVX)

ACT Wealth Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,300 shares of the oil and gas company’s stock after buying an additional 70 shares during the quarter. Chevron comprises approximately 0.3% of ACT Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. ACT Wealth Management LLC’s holdings in Chevron were worth $641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in shares of Chevron in the 3rd quarter valued at about $35,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX traded up $0.33 on Wednesday, reaching $155.60. 1,671,968 shares of the company’s stock traded hands, compared to its average volume of 8,689,606. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $288.99 billion, a PE ratio of 13.67, a PEG ratio of 2.40 and a beta of 1.12. The stock’s 50 day simple moving average is $151.11 and its two-hundred day simple moving average is $152.73. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the business posted $4.09 earnings per share. Chevron’s revenue was down 16.5% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Piper Sandler dropped their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Royal Bank of Canada upped their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

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.