WealthTrust Axiom LLC Raises Holdings in Chevron Co. (NYSE:CVX)

WealthTrust Axiom LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,094 shares of the oil and gas company’s stock after purchasing an additional 166 shares during the quarter. WealthTrust Axiom LLC’s holdings in Chevron were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Windsor Advisory Group LLC boosted its holdings in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 720 shares during the last quarter. Renaissance Investment Group LLC lifted its holdings in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the period. Altrius Capital Management Inc boosted its stake in shares of Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Chevron in the fourth quarter worth $254,000. Finally, Kapstone Financial Advisors LLC increased its position in Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX stock traded down $3.68 during mid-day trading on Tuesday, hitting $162.65. The company had a trading volume of 4,065,216 shares, compared to its average volume of 8,399,569. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $302.08 billion, a P/E ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12. The stock’s 50 day moving average price is $156.81 and its 200-day moving average price is $151.70. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.55 earnings per share. Equities research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

CVX has been the topic of several research reports. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.