Wealth Enhancement Advisory Services LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,038,871 shares of the oil and gas company’s stock after purchasing an additional 157,272 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Chevron were worth $152,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Marietta Wealth Management LLC lifted its position in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its holdings in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC grew its stake in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares in the last quarter. Finally, State Street Corp lifted its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.60.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.8 %

CVX stock traded up $1.21 during trading on Friday, hitting $151.51. 3,620,046 shares of the company’s stock traded hands, compared to its average volume of 6,266,241. The business has a fifty day simple moving average of $153.68 and a two-hundred day simple moving average of $151.08. 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 firm has a market capitalization of $272.28 billion, a P/E ratio of 16.65, a PEG ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.