Evergreen Wealth Solutions LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Evergreen Wealth Solutions LLC boosted its position in Chevron Co. (NYSE:CVX) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,617 shares of the oil and gas company’s stock after buying an additional 1,445 shares during the period. Evergreen Wealth Solutions LLC’s holdings in Chevron were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter worth $39,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Chevron during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $166.06.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Down 0.6 %

CVX opened at $139.30 on Wednesday. The firm has a market capitalization of $245.25 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company’s 50 day simple moving average is $150.96 and its two-hundred day simple moving average is $152.82. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the company posted $3.45 EPS. Analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.