Chevron Co. (NYSE:CVX) Position Lifted by Quantum Private Wealth LLC

Quantum Private Wealth LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,771 shares of the oil and gas company’s stock after acquiring an additional 250 shares during the quarter. Quantum Private Wealth LLC’s holdings in Chevron were worth $562,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVX. Moneta Group Investment Advisors LLC lifted its position in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth about $3,058,235,000. Imprint Wealth LLC lifted its position in shares of Chevron by 15,457.0% in the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley lifted its position in shares of Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Price Performance

Shares of CVX traded down $1.31 during mid-day trading on Wednesday, hitting $156.28. The company’s stock had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. The firm has a 50-day moving average price of $155.11 and a 200 day moving average price of $151.83. The stock has a market capitalization of $290.25 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.54.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 EPS. On average, research analysts predict that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

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.