Chevron Co. (NYSE:CVX) Shares Acquired by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. increased its stake in Chevron Co. (NYSE:CVX) by 5.5% during the 4th quarter, Holdings Channel reports. The fund owned 8,152 shares of the oil and gas company’s stock after purchasing an additional 422 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Chevron were worth $1,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $158.25 on Thursday. The company has a market capitalization of $284.39 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50-day simple moving average of $153.78 and a 200-day simple moving average of $150.95. 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 (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company increased their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

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.