Independent Solutions Wealth Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Independent Solutions Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,011 shares of the oil and gas company’s stock after purchasing an additional 716 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Chevron were worth $3,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter worth about $31,000. Finally, Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.7 %

CVX traded down $2.48 on Thursday, reaching $141.60. The company’s stock had a trading volume of 8,299,195 shares, compared to its average volume of 7,717,539. 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 Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s 50 day moving average is $155.19 and its 200 day moving average is $152.13. The stock has a market cap of $254.47 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVX shares. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Truist Financial raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $175.19.

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.