Johnson & White Wealth Management LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Johnson & White Wealth Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,540 shares of the oil and gas company’s stock, valued at approximately $519,000.

Several other institutional investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. grew its holdings in Chevron by 5.2% during the second quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after purchasing an additional 2,385 shares during the period. Sierra Summit Advisors LLC lifted its position in shares of Chevron by 13.8% during the 2nd quarter. Sierra Summit Advisors LLC now owns 1,839 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 223 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after acquiring an additional 1,168,137 shares during the period. Terril Brothers Inc. increased its holdings in Chevron by 8.7% in the 2nd quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock worth $320,000 after acquiring an additional 164 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new position in shares of Chevron during the second quarter worth $348,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Scotiabank decreased their target price on 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Insider Activity

In related 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 transaction 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 $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $156.85 on Wednesday. The company 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 current ratio of 1.07 and a quick ratio of 0.80. The stock’s fifty day moving average price is $153.78 and its 200 day moving average price is $150.95. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.