Wealthspire Advisors LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Wealthspire Advisors LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 88.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,860 shares of the oil and gas company’s stock after buying an additional 34,188 shares during the period. Wealthspire Advisors LLC’s holdings in Chevron were worth $10,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Strategic Investment Advisors MI lifted its stake in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC lifted its stake in Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares during the last quarter. Investment Partners LTD. lifted its stake in Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares during the last quarter. Finally, ACT Wealth Management LLC lifted its stake in Chevron by 1.7% during the fourth quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock worth $641,000 after purchasing an additional 70 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. DZ Bank downgraded 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. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Truist Financial lowered their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Price Performance

Shares of NYSE CVX traded up $2.95 during mid-day trading on Thursday, reaching $165.49. 6,682,814 shares of the company were exchanged, compared to its average volume of 8,426,376. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $305.66 billion, a PE ratio of 15.22, a PEG ratio of 2.37 and a beta of 1.11. The company’s 50 day moving average price is $157.82 and its 200 day moving average price is $151.53.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,247 shares of company stock worth $2,154,164. 0.20% of the stock is currently owned by company insiders.

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.