Bay Capital Advisors LLC Takes $307,000 Position in Chevron Co. (NYSE:CVX)

Bay Capital Advisors LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,120 shares of the oil and gas company’s stock, valued at approximately $307,000.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter worth approximately $29,000. Fairway Wealth LLC raised its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup upgraded 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. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

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

Chevron Price Performance

Shares of CVX opened at $165.10 on Tuesday. The business has a 50-day simple moving average of $156.49 and a two-hundred day simple moving average of $152.81. The stock has a market cap of $290.68 billion, a PE ratio of 16.99, a PEG 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. 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 (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

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.