Chevron Co. (NYSE:CVX) Shares Acquired by Trek Financial LLC

Trek Financial LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,982 shares of the oil and gas company’s stock after purchasing an additional 2,249 shares during the quarter. Trek Financial LLC’s holdings in Chevron were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 8.3 %

CVX opened at $143.10 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The company has a market cap of $251.95 billion, a P/E ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. The business’s 50-day simple moving average is $157.38 and its 200-day simple moving average is $154.25.

Chevron (NYSE:CVX) last announced its quarterly 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 previous year, the business earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. Chevron’s payout ratio is 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CVX shares. Barclays cut 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. Wells Fargo & Company reduced their price target 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. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.