World Equity Group Inc. Raises Holdings in Chevron Co. (NYSE:CVX)

World Equity Group Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 8,309 shares of the oil and gas company’s stock after buying an additional 529 shares during the quarter. World Equity Group Inc.’s holdings in Chevron were worth $1,203,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at $25,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.2 %

Shares of Chevron stock opened at $156.92 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $282.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50-day moving average price of $151.97 and a 200 day moving average price of $151.05.

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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 yield of 4.36%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.