Stratos Wealth Partners LTD. Boosts Holdings in Chevron Corporation $CVX

Stratos Wealth Partners LTD. boosted its position in shares of Chevron Corporation (NYSE:CVX) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 86,457 shares of the oil and gas company’s stock after purchasing an additional 13,056 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Chevron were worth $13,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Chevron during the second quarter valued at approximately $2,721,477,000. Bank of New York Mellon Corp lifted its position in Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after acquiring an additional 3,696,177 shares in the last quarter. Berkshire Hathaway Inc boosted its stake in Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 32.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,125,735 shares of the oil and gas company’s stock worth $1,417,135,000 after purchasing an additional 2,218,283 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Piper Sandler reduced their price objective on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Jefferies Financial Group boosted their target price on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target on the stock in a report on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus target price of $175.00.

Insider Activity

In related news, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Ryder Booth sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $178.43, for a total value of $1,070,580.00. Following the sale, the chief technology officer directly owned 476 shares of the company’s stock, valued at $84,932.68. This represents a 92.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 793,158 shares of company stock worth $127,919,578. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.1%

Chevron stock opened at $182.39 on Wednesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $182.95. The company has a market cap of $367.25 billion, a P/E ratio of 27.39, a P/E/G ratio of 12.28 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $160.55 and a two-hundred day simple moving average of $156.86.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 EPS. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is a boost from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is 102.70%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.