Executive Wealth Management LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Executive Wealth Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,538 shares of the oil and gas company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC increased its stake in shares of Chevron by 2.7% during the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares during the last quarter. Lockerman Financial Group Inc. boosted its holdings in shares of Chevron by 9.3% during the 2nd quarter. Lockerman Financial Group Inc. now owns 2,046 shares of the oil and gas company’s stock worth $320,000 after buying an additional 174 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 19,175 shares of the oil and gas company’s stock worth $2,977,000 after buying an additional 182 shares during the period. Arlington Financial Advisors LLC boosted its holdings in shares of Chevron by 0.5% during the 2nd quarter. Arlington Financial Advisors LLC now owns 23,048 shares of the oil and gas company’s stock worth $3,605,000 after buying an additional 125 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Chevron during the 2nd quarter worth $265,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.0 %

Shares of Chevron stock opened at $157.07 on Wednesday. The stock has a market capitalization of $282.27 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $154.97 and a 200 day simple moving average of $152.42. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $3.05 EPS. Research analysts expect that Chevron Co. will post 10.54 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial increased their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.13.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.