Wetzel Investment Advisors Inc. Acquires New Stake in Chevron Co. (NYSE:CVX)

Wetzel Investment Advisors Inc. acquired a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,812 shares of the oil and gas company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Naples Money Management LLC acquired a new stake in Chevron during the 4th quarter worth about $255,000. Tanager Wealth Management LLP grew its holdings in Chevron by 1.7% during the 4th quarter. Tanager Wealth Management LLP now owns 5,295 shares of the oil and gas company’s stock worth $790,000 after acquiring an additional 86 shares during the period. RIA Advisory Group LLC boosted its position in shares of Chevron by 5.4% during the 4th quarter. RIA Advisory Group LLC now owns 2,646 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 135 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Chevron by 4.3% during the 4th quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 142 shares in the last quarter. Finally, Beaumont Financial Advisors LLC boosted its position in shares of Chevron by 0.9% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,136 shares of the oil and gas company’s stock worth $1,512,000 after purchasing an additional 93 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.43 during trading on Friday, hitting $160.00. 7,734,654 shares of the company were exchanged, compared to its average volume of 6,934,255. The company has a market cap of $297.16 billion, a PE ratio of 14.08, a P/E/G ratio of 2.38 and a beta of 1.12. The stock has a 50 day moving average of $155.44 and a 200 day moving average of $151.86. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. 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 (NYSE:CVX) last posted its earnings results 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. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The business’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVX shares. Wells Fargo & Company increased their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.