Chevron Co. (NYSE:CVX) Stock Position Lifted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in Chevron Co. (NYSE:CVX) by 12.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 164,382 shares of the oil and gas company’s stock after acquiring an additional 18,320 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Chevron were worth $23,809,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stephens Inc. AR grew its stake in shares of Chevron by 18.3% in the 4th quarter. Stephens Inc. AR now owns 249,916 shares of the oil and gas company’s stock valued at $36,198,000 after buying an additional 38,631 shares in the last quarter. Stockman Wealth Management Inc. lifted its stake in Chevron by 4.0% in the fourth quarter. Stockman Wealth Management Inc. now owns 68,064 shares of the oil and gas company’s stock valued at $9,858,000 after acquiring an additional 2,607 shares during the last quarter. Rede Wealth LLC grew its position in Chevron by 10.0% in the fourth quarter. Rede Wealth LLC now owns 2,333 shares of the oil and gas company’s stock worth $338,000 after acquiring an additional 212 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in shares of Chevron by 0.5% during the 4th quarter. Benedict Financial Advisors Inc. now owns 27,493 shares of the oil and gas company’s stock worth $3,982,000 after purchasing an additional 142 shares during the last quarter. Finally, Richard C. Young & CO. LTD. raised its holdings in shares of Chevron by 0.8% during the 4th quarter. Richard C. Young & CO. LTD. now owns 101,910 shares of the oil and gas company’s stock valued at $14,761,000 after purchasing an additional 826 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.4 %

Shares of CVX stock opened at $152.54 on Friday. The company has a market capitalization of $274.13 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. The firm has a 50-day moving average price of $152.21 and a 200 day moving average price of $150.88. 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 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business earned $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.