Paragon Private Wealth Management LLC Buys 431 Shares of Chevron Co. (NYSE:CVX)

Paragon Private Wealth Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,023 shares of the oil and gas company’s stock after buying an additional 431 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Chevron were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Pettinga Financial Advisors LLC grew its stake in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the last quarter. Summit Global Investments grew its stake in shares of Chevron by 26.1% in the third quarter. Summit Global Investments now owns 5,784 shares of the oil and gas company’s stock worth $852,000 after purchasing an additional 1,197 shares during the last quarter. United Bank grew its stake in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Rovin Capital UT ADV grew its stake in shares of Chevron by 17.1% in the third quarter. Rovin Capital UT ADV now owns 2,162 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 315 shares during the last quarter. Finally, Field & Main Bank grew its stake in shares of Chevron by 1.0% in the third quarter. Field & Main Bank now owns 18,871 shares of the oil and gas company’s stock worth $2,779,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $156.48 on Monday. The firm’s 50-day moving average price is $154.08 and its 200-day moving average price is $151.78. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $275.51 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08. 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 (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the business posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced 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 4.37%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.