LMG Wealth Partners LLC Purchases 1,943 Shares of Chevron Co. (NYSE:CVX)

LMG Wealth Partners LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,047 shares of the oil and gas company’s stock after purchasing an additional 1,943 shares during the quarter. Chevron makes up approximately 2.2% of LMG Wealth Partners LLC’s holdings, making the stock its 10th biggest holding. LMG Wealth Partners LLC’s holdings in Chevron were worth $10,146,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Corps Capital Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth approximately $767,000. SNS Financial Group LLC bought a new stake in Chevron during the 4th quarter worth approximately $210,000. Private Wealth Partners LLC grew its position in Chevron by 2.8% during the 4th quarter. Private Wealth Partners LLC now owns 196,308 shares of the oil and gas company’s stock worth $28,433,000 after acquiring an additional 5,269 shares during the last quarter. Sterling Financial Planning Inc. increased its holdings in Chevron by 16.3% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,866 shares of the oil and gas company’s stock valued at $270,000 after purchasing an additional 262 shares in the last quarter. Finally, Parthenon LLC raised its position in Chevron by 1.3% in the 4th quarter. Parthenon LLC now owns 11,701 shares of the oil and gas company’s stock valued at $1,695,000 after purchasing an additional 150 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $157.14 on Thursday. The stock has a market cap of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The stock has a 50-day moving average of $151.82 and a 200-day moving average of $150.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 prior year, the company posted $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.35%. Chevron’s payout ratio is currently 70.37%.

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.