ACT Wealth Management LLC Has $641,000 Holdings in Chevron Co. (NYSE:CVX)

ACT Wealth Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,300 shares of the oil and gas company’s stock after purchasing an additional 70 shares during the period. Chevron comprises about 0.3% of ACT Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. ACT Wealth Management LLC’s holdings in Chevron were worth $641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. DHJJ Financial Advisors Ltd. bought a new stake in Chevron in the third quarter valued at $35,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $33,000. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron during the first quarter worth $36,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler decreased their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research note on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Trading Up 0.2 %

Shares of Chevron stock traded up $0.33 during trading hours on Wednesday, hitting $155.60. The company’s stock had a trading volume of 1,671,968 shares, compared to its average volume of 8,689,606. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock has a 50 day moving average of $151.11 and a 200 day moving average of $152.73. The company has a market capitalization of $288.99 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the company earned $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts predict that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

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.