Brophy Wealth Management LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Brophy Wealth Management LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 4,392 shares of the oil and gas company’s stock, valued at approximately $647,000.

Other large investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Truist Financial raised their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $177.13.

Chevron Trading Up 1.2 %

CVX opened at $157.13 on Tuesday. 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 52 week low of $135.37 and a 52 week high of $167.11. The business’s 50 day moving average is $154.97 and its two-hundred day moving average is $152.42. The firm has a market cap of $282.37 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 3.43 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 10.53 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Chevron 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.