Apollon Wealth Management LLC Acquires 15,766 Shares of Chevron Co. (NYSE:CVX)

Apollon Wealth Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 23.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,208 shares of the oil and gas company’s stock after buying an additional 15,766 shares during the quarter. Apollon Wealth Management LLC’s holdings in Chevron were worth $11,907,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Apollon Financial LLC raised its holdings in shares of Chevron by 5.8% in the 4th quarter. Apollon Financial LLC now owns 2,816 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 155 shares during the period. Opinicus Capital Inc. raised its stake in shares of Chevron by 5.0% in the fourth quarter. Opinicus Capital Inc. now owns 6,795 shares of the oil and gas company’s stock valued at $984,000 after buying an additional 322 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Chevron by 0.4% during the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 115,424 shares of the oil and gas company’s stock valued at $16,718,000 after buying an additional 463 shares during the last quarter. TFG Advisers LLC grew its stake in shares of Chevron by 0.5% during the 4th quarter. TFG Advisers LLC now owns 21,064 shares of the oil and gas company’s stock worth $3,051,000 after acquiring an additional 97 shares during the period. Finally, Vest Financial LLC increased its holdings in Chevron by 17.2% in the 4th quarter. Vest Financial LLC now owns 396,746 shares of the oil and gas company’s stock worth $57,465,000 after acquiring an additional 58,292 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $152.54 on Friday. The stock has a market capitalization of $274.13 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.39 and a beta of 1.11. The firm’s 50-day moving average price is $152.40 and its two-hundred day moving average price is $150.91. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $3.45 EPS. As a group, equities analysts predict that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given 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 4.48%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Citigroup upgraded 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 report on Tuesday, November 26th. Finally, Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.