N.E.W. Advisory Services LLC Buys 178 Shares of Chevron Co. (NYSE:CVX)

N.E.W. Advisory Services LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,078 shares of the oil and gas company’s stock after buying an additional 178 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Chevron were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in Chevron during the third quarter worth $29,000. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 4.5 %

Shares of NYSE CVX opened at $149.21 on Friday. The stock has a market capitalization of $268.14 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock’s fifty day simple moving average is $153.46 and its two-hundred day simple moving average is $151.20.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 net margin of 8.44% and a return on equity of 13.15%. During the same period in the prior year, the company posted $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler decreased their price objective 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. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.