VSM Wealth Advisory LLC Takes Position in Chevron Co. (NYSE:CVX)

VSM Wealth Advisory LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, Holdings Channel reports. The fund acquired 1,751 shares of the oil and gas company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fox Hill Wealth Management raised its position in shares of Chevron by 2.6% during the 4th quarter. Fox Hill Wealth Management now owns 4,087 shares of the oil and gas company’s stock valued at $592,000 after purchasing an additional 104 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Chevron by 64.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 2,230 shares during the period. Compass Ion Advisors LLC increased its holdings in Chevron by 3.2% in the 4th quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company’s stock valued at $887,000 after acquiring an additional 190 shares during the last quarter. Enhancing Capital LLC bought a new stake in Chevron in the 4th quarter valued at $2,949,000. Finally, Generali Asset Management SPA SGR bought a new stake in Chevron in the 4th quarter valued at $11,771,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Piper Sandler reduced their price target 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. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial reduced their price target 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. Finally, UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

CVX stock opened at $160.81 on Wednesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $155.49 and a 200 day moving average price of $152.23. The stock has a market cap of $283.12 billion, a PE ratio of 16.54, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.25%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were 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. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron 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.