Western Wealth Management LLC Acquires 690 Shares of Chevron Co. (NYSE:CVX)

Western Wealth Management LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,146 shares of the oil and gas company’s stock after purchasing an additional 690 shares during the period. Western Wealth Management LLC’s holdings in Chevron were worth $4,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares in the last quarter. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at approximately $3,058,235,000. Imprint Wealth LLC grew its holdings in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares in the last quarter. Morgan Stanley grew its holdings in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVX shares. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho increased their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Truist Financial lowered their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 1.8 %

Shares of Chevron stock traded up $2.84 during trading on Friday, hitting $160.41. 1,518,605 shares of the stock traded hands, compared to its average volume of 8,431,626. The stock’s fifty day simple moving average is $155.26 and its 200 day simple moving average is $151.90. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. 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 firm has a market cap of $297.92 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

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.