Chevron Co. (NYSE:CVX) Shares Purchased by Bridgewealth Advisory Group LLC

Bridgewealth Advisory Group LLC grew its position in Chevron Co. (NYSE:CVX) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,172 shares of the oil and gas company’s stock after acquiring an additional 1,470 shares during the quarter. Bridgewealth Advisory Group LLC’s holdings in Chevron were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $39,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Chevron in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $139.30 on Wednesday. The firm has a market cap of $245.25 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.46 and a beta of 0.93. The business’s 50-day simple moving average is $150.96 and its 200-day simple moving average is $152.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the company earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.91%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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 value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wells Fargo & Company dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $166.06.

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.