3,713 Shares in Chevron Co. (NYSE:CVX) Acquired by Power Wealth Management LLC

Power Wealth Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,713 shares of the oil and gas company’s stock, valued at approximately $554,000.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Chevron in the 3rd quarter valued at about $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in 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 buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at $33,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Truist Financial reduced their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX traded down $0.48 during midday trading on Friday, hitting $160.25. The stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The company has a market cap of $297.63 billion, a P/E ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The business’s 50-day simple moving average is $157.26 and its 200-day simple moving average is $151.76. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.55 EPS. On average, sell-side analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio is currently 59.98%.

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.