Wealthcare Advisory Partners LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Wealthcare Advisory Partners LLC raised its stake in Chevron Co. (NYSE:CVX) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,659 shares of the oil and gas company’s stock after purchasing an additional 1,966 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Chevron were worth $3,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was 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 of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Performance

Shares of CVX stock opened at $161.54 on Friday. The company has a market cap of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The business has a 50 day moving average of $153.84 and a two-hundred day moving average of $151.06. Chevron Co. has a 52 week low of $135.37 and a 52 week 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 quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 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.