Orca Wealth Management LLC Invests $2.06 Million in Chevron Co. (NYSE:CVX)

Orca Wealth Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,245 shares of the oil and gas company’s stock, valued at approximately $2,063,000. Chevron comprises about 1.9% of Orca Wealth Management LLC’s investment portfolio, making the stock its 16th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $47,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Trading Down 0.3 %

Shares of NYSE CVX opened at $155.79 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $279.97 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $153.67 and its 200-day moving average is $151.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. Equities research analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.