Chevron Co. (NYSE:CVX) Shares Acquired by WealthTrust Axiom LLC

WealthTrust Axiom LLC raised its position in Chevron Co. (NYSE:CVX) by 1.0% in the fourth quarter, Holdings Channel reports. The fund owned 16,094 shares of the oil and gas company’s stock after buying an additional 166 shares during the period. WealthTrust Axiom LLC’s holdings in Chevron were worth $2,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management purchased a new position in Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth about $33,000. Legacy Financial Group LLC acquired a new stake in shares of Chevron during the third quarter worth about $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX traded down $3.68 during mid-day trading on Tuesday, reaching $162.65. 4,065,216 shares of the company’s stock were exchanged, compared to its average volume of 8,399,569. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $302.08 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.44 and a beta of 1.12. The company has a 50-day simple moving average of $156.81 and a two-hundred day simple moving average of $151.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

Several research firms have commented on CVX. 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 report on Monday, January 8th. Truist Financial lowered their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

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.