Chevron Co. (NYSE:CVX) Stake Increased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its stake in Chevron Co. (NYSE:CVX) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,083 shares of the oil and gas company’s stock after acquiring an additional 106 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Chevron were worth $311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in Chevron during the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth about $33,000. Legacy Financial Group LLC bought a new position in shares of Chevron during the third quarter worth about $43,000. Finally, Roble Belko & Company Inc grew its position in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Chevron Stock Down 0.4 %

Shares of Chevron stock opened at $162.12 on Wednesday. The stock has a market capitalization of $301.10 billion, a P/E ratio of 14.34, a PEG ratio of 2.38 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $155.88 and a two-hundred day moving average price of $151.66. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating 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 analysts’ expectations of $50.93 billion. During the same period in the prior year, the business earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

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.