Chevron Co. (NYSE:CVX) Shares Bought by World Equity Group Inc.

World Equity Group Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,309 shares of the oil and gas company’s stock after purchasing an additional 529 shares during the period. World Equity Group Inc.’s holdings in Chevron were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.2 %

Shares of Chevron stock opened at $156.92 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $282.00 billion, a PE ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The business’s fifty day moving average is $151.97 and its two-hundred day moving average is $151.05. 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 (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 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 period in the previous year, the business posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 earnings per share 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. 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 currently 70.37%.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Citigroup raised 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 note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.