SVB Wealth LLC Buys 241 Shares of Chevron Co. (NYSE:CVX)

SVB Wealth LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 65,333 shares of the oil and gas company’s stock after purchasing an additional 241 shares during the quarter. SVB Wealth LLC’s holdings in Chevron were worth $9,745,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Picton Mahoney Asset Management bought a new position in shares of Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth about $33,000. Worth Asset Management LLC bought a new position in shares of Chevron in the 1st quarter worth about $36,000. Finally, Legacy Financial Group LLC bought a new position in shares of Chevron in the 3rd quarter worth about $43,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX stock opened at $156.28 on Wednesday. The company has a market capitalization of $290.25 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.54. The business has a 50-day simple moving average of $155.11 and a two-hundred day simple moving average of $151.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the business earned $4.09 EPS. The company’s quarterly revenue was down 16.5% on a year-over-year basis. Research analysts expect that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVX shares. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler reduced their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Wells Fargo & Company raised their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% 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.