Laurel Wealth Advisors LLC Has $3.76 Million Stake in Chevron Co. (NYSE:CVX)

Laurel Wealth Advisors LLC raised its stake in Chevron Co. (NYSE:CVX) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,924 shares of the oil and gas company’s stock after acquiring an additional 1,259 shares during the period. Laurel Wealth Advisors LLC’s holdings in Chevron were worth $3,755,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Meridian Financial Partners LLC boosted its stake in shares of Chevron by 0.5% in the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Chevron by 41.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,348 shares of the oil and gas company’s stock valued at $2,368,000 after purchasing an additional 4,764 shares during the last quarter. Park Avenue Securities LLC boosted its position in Chevron by 20.2% in the fourth quarter. Park Avenue Securities LLC now owns 84,765 shares of the oil and gas company’s stock valued at $12,277,000 after buying an additional 14,245 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Chevron by 24.7% during the fourth quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock worth $400,000 after buying an additional 547 shares during the last quarter. Finally, San Luis Wealth Advisors LLC grew its stake in Chevron by 2.8% during the fourth quarter. San Luis Wealth Advisors LLC now owns 7,459 shares of the oil and gas company’s stock worth $1,080,000 after buying an additional 205 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.9 %

NYSE:CVX opened at $158.25 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock’s fifty day simple moving average is $153.78 and its 200-day simple moving average is $150.95. The firm has a market capitalization of $284.39 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.05 earnings per share. Equities research analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVX shares. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.