Wrapmanager Inc. Purchases 408 Shares of Chevron Co. (NYSE:CVX)

Wrapmanager Inc. boosted its position in Chevron Co. (NYSE:CVX) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,913 shares of the oil and gas company’s stock after acquiring an additional 408 shares during the period. Wrapmanager Inc.’s holdings in Chevron were worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Montz Harcus Wealth Management LLC boosted its position in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares in the last quarter. Tacita Capital Inc boosted its position in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its position in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares in the last quarter. Finally, S.A. Mason LLC boosted its position in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research reports. UBS Group lifted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Finally, Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

Shares of CVX opened at $160.78 on Tuesday. The firm has a market cap of $288.94 billion, a PE ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $149.80 and a two-hundred day simple moving average of $152.57. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.