Leo Wealth LLC Has $2.08 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Leo Wealth LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 74.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,352 shares of the oil and gas company’s stock after purchasing an additional 6,106 shares during the quarter. Leo Wealth LLC’s holdings in Chevron were worth $2,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.7 %

NYSE CVX opened at $151.86 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a fifty day moving average price of $152.60 and a two-hundred day moving average price of $150.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $272.90 billion, a PE ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company earned $3.45 EPS. Equities analysts expect that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVX. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

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

About Chevron

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.