Etesian Wealth Advisors Inc. Acquires 817 Shares of Chevron Co. (NYSE:CVX)

Etesian Wealth Advisors Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,048 shares of the oil and gas company’s stock after purchasing an additional 817 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Chevron were worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.7 %

Shares of NYSE CVX opened at $151.86 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 firm has a 50-day moving average of $152.60 and a 200 day moving average of $150.90. The stock has a market cap of $272.90 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

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 in the previous year, the business earned $3.45 EPS. As a group, sell-side analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.50%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is 67.08%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CVX shares. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.