SVB Wealth LLC Invests $17.05 Million in Chevron Co. (NYSE:CVX)

SVB Wealth LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 117,716 shares of the oil and gas company’s stock, valued at approximately $17,050,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions 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. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth about $31,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.2 %

NYSE CVX opened at $158.59 on Friday. The company’s 50-day simple moving average is $153.14 and its two-hundred day simple moving average is $151.44. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $285.00 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. 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 issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company posted $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial reduced their price target 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company 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.