Pacific Wealth Strategies Group Inc. Acquires 475 Shares of Chevron Co. (NYSE:CVX)

Pacific Wealth Strategies Group Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,792 shares of the oil and gas company’s stock after purchasing an additional 475 shares during the quarter. Chevron makes up 1.1% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 27th biggest holding. Pacific Wealth Strategies Group Inc.’s holdings in Chevron were worth $1,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sweet Financial Partners LLC grew its stake in Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the period. Strategic Investment Advisors MI grew its position in Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its stake in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after acquiring an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC boosted its holdings in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares during the last quarter. Finally, Rosenbaum Jay D. grew its stake in shares of Chevron by 1.4% in the 3rd quarter. Rosenbaum Jay D. now owns 5,160 shares of the oil and gas company’s stock worth $870,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Royal Bank of Canada increased 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. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $0.22 during trading on Wednesday, reaching $162.63. 1,978,061 shares of the company’s stock were exchanged, compared to its average volume of 8,376,000. The firm’s 50-day moving average price is $155.88 and its 200 day moving average price is $151.66. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $302.05 billion, a P/E ratio of 14.33, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the business posted $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 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.