EQ Wealth Advisors LLC Makes New Investment in Chevron Co. (NYSE:CVX)

EQ Wealth Advisors LLC purchased a new position in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,985 shares of the oil and gas company’s stock, valued at approximately $288,000.

Several other hedge funds have also recently made changes to their positions in the stock. Jennison Associates LLC grew its position in Chevron by 11.0% during the fourth quarter. Jennison Associates LLC now owns 499,316 shares of the oil and gas company’s stock valued at $72,321,000 after buying an additional 49,633 shares during the period. Leisure Capital Management grew its position in shares of Chevron by 138.2% during the 4th quarter. Leisure Capital Management now owns 7,509 shares of the oil and gas company’s stock valued at $1,088,000 after acquiring an additional 4,357 shares during the period. Lazari Capital Management Inc. increased its stake in shares of Chevron by 7.4% in the 4th quarter. Lazari Capital Management Inc. now owns 4,507 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 312 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in Chevron by 3.1% in the 4th quarter. Resonant Capital Advisors LLC now owns 34,230 shares of the oil and gas company’s stock worth $4,958,000 after purchasing an additional 1,027 shares during the period. Finally, Brentview Investment Management LLC purchased a new position in Chevron during the fourth quarter valued at $5,625,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.60.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.1 %

Shares of NYSE:CVX opened at $149.39 on Tuesday. The firm has a market capitalization of $268.46 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.12. The business has a 50 day simple moving average of $153.19 and a two-hundred day simple moving average of $151.02. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.