Fairvoy Private Wealth LLC Purchases Shares of 6,481 Chevron Co. (NYSE:CVX)

Fairvoy Private Wealth LLC acquired 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 institutional investor acquired 6,481 shares of the oil and gas company’s stock, valued at approximately $939,000.

Other large investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.7 %

Shares of CVX stock opened at $151.86 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s fifty day moving average price is $152.60 and its 200-day moving average price is $150.90. The company has a market capitalization of $272.90 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11.

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 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.50%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insiders Place Their Bets

In related 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 value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.