Vertex Planning Partners LLC Purchases 135 Shares of Chevron Co. (NYSE:CVX)

Vertex Planning Partners LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,547 shares of the oil and gas company’s stock after buying an additional 135 shares during the quarter. Vertex Planning Partners LLC’s holdings in Chevron were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC lifted its holdings 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 acquiring an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $166.73 on Friday. The firm’s 50 day moving average is $157.01 and its 200 day moving average is $153.21. The stock has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.