Laidlaw Wealth Management LLC Buys 289 Shares of Chevron Co. (NYSE:CVX)

Laidlaw Wealth Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,937 shares of the oil and gas company’s stock after buying an additional 289 shares during the quarter. Laidlaw Wealth Management LLC’s holdings in Chevron were worth $570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter valued at $25,000. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter valued at $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $156.23 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $280.76 billion, a PE ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The company’s 50-day moving average is $151.80 and its two-hundred day moving average is $150.81.

Chevron (NYSE:CVX) last released its earnings results 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 quarter last year, the company earned $3.45 EPS. Equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. 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. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company 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.