AdvisorNet Financial Inc Acquires 252 Shares of Chevron Co. (NYSE:CVX)

AdvisorNet Financial Inc boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,895 shares of the oil and gas company’s stock after acquiring an additional 252 shares during the quarter. AdvisorNet Financial Inc’s holdings in Chevron were worth $1,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Financial Corp IN lifted its holdings in Chevron by 8.9% during the 4th quarter. First Financial Corp IN now owns 5,800 shares of the oil and gas company’s stock worth $840,000 after buying an additional 475 shares during the period. Tsfg LLC lifted its stake in shares of Chevron by 3.2% in the fourth quarter. Tsfg LLC now owns 3,435 shares of the oil and gas company’s stock worth $498,000 after acquiring an additional 108 shares during the period. Parisi Gray Wealth Management boosted its holdings in Chevron by 5.6% in the fourth quarter. Parisi Gray Wealth Management now owns 2,435 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 130 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Chevron by 4.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 18,792 shares of the oil and gas company’s stock valued at $2,722,000 after purchasing an additional 859 shares during the period. Finally, Miracle Mile Advisors LLC lifted its position in shares of Chevron by 161.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 69,946 shares of the oil and gas company’s stock worth $10,131,000 after purchasing an additional 43,243 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $156.85 on Wednesday. The stock has a market cap of $281.87 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50-day simple moving average is $153.78 and its 200 day simple moving average is $150.95.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

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.