Chevron Co. (NYSE:CVX) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,524 shares of the oil and gas company’s stock after purchasing an additional 5,319 shares during the period. Concord Wealth Partners’ holdings in Chevron were worth $2,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new position in Chevron in the 4th quarter valued at approximately $81,000. Essex Financial Services Inc. increased its stake in shares of Chevron by 10.0% during the 4th quarter. Essex Financial Services Inc. now owns 47,859 shares of the oil and gas company’s stock worth $7,139,000 after purchasing an additional 4,342 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Chevron during the 4th quarter worth $611,000. ICW Investment Advisors LLC increased its stake in shares of Chevron by 0.6% during the 4th quarter. ICW Investment Advisors LLC now owns 11,996 shares of the oil and gas company’s stock worth $1,789,000 after purchasing an additional 76 shares during the last quarter. Finally, Berry Wealth Group LP bought a new stake in shares of Chevron during the 4th quarter worth $348,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Stock Down 0.6 %

Shares of NYSE CVX traded down $0.97 during midday trading on Wednesday, reaching $160.30. The company’s stock had a trading volume of 4,279,707 shares, compared to its average volume of 8,399,915. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $297.72 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. The stock has a 50 day simple moving average of $156.96 and a 200-day simple moving average of $151.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 13.71 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Profile

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.