Wealthstar Advisors LLC Acquires New Stake in Chevron Co. (NYSE:CVX)

Wealthstar Advisors LLC bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,480 shares of the oil and gas company’s stock, valued at approximately $504,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. InTrack Investment Management Inc raised its holdings in Chevron by 5.3% in the third quarter. InTrack Investment Management Inc now owns 13,209 shares of the oil and gas company’s stock worth $1,945,000 after buying an additional 663 shares during the last quarter. City State Bank increased its position in shares of Chevron by 6.0% during the third quarter. City State Bank now owns 6,217 shares of the oil and gas company’s stock valued at $916,000 after acquiring an additional 350 shares in the last quarter. Compton Wealth Advisory Group LLC raised its holdings in Chevron by 3.9% in the 3rd quarter. Compton Wealth Advisory Group LLC now owns 15,157 shares of the oil and gas company’s stock worth $2,232,000 after acquiring an additional 572 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Chevron by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 139,783 shares of the oil and gas company’s stock valued at $20,586,000 after acquiring an additional 26,002 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its stake in Chevron by 1.0% during the 3rd quarter. CHICAGO TRUST Co NA now owns 33,811 shares of the oil and gas company’s stock valued at $4,979,000 after purchasing an additional 327 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’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 transaction of $26,357,398.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Up 0.4 %

CVX stock opened at $152.54 on Monday. The business’s 50-day moving average price is $152.21 and its 200-day moving average price is $150.85. The stock has a market cap of $274.13 billion, a P/E ratio of 15.69, a PEG ratio of 1.39 and a beta of 1.11. 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 twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $3.45 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

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

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.