Chevron Co. (NYSE:CVX) Shares Bought by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC grew its position in Chevron Co. (NYSE:CVX) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,371 shares of the oil and gas company’s stock after purchasing an additional 585 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Chevron were worth $488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter valued at $30,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter worth about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $157.10 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $155.03 and a 200-day simple moving average of $152.06. The company has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company posted $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.35%. Chevron’s payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler cut their target price 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. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.