Chevron Co. (NYSE:CVX) Shares Acquired by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,429 shares of the oil and gas company’s stock after acquiring an additional 546 shares during the quarter. Chevron makes up about 1.9% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 5th largest holding. Alpha Omega Wealth Management LLC’s holdings in Chevron were worth $11,400,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NCM Capital Management LLC boosted its stake in shares of Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after acquiring an additional 65 shares in the last quarter. Sweet Financial Partners LLC lifted its stake in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares in the last quarter. Alera Investment Advisors LLC raised its holdings in Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares during the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in Chevron by 1.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Piper Sandler cut their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Stock Performance

CVX opened at $156.38 on Thursday. The business’s 50 day moving average is $155.19 and its 200-day moving average is $151.86. The stock has a market cap of $290.44 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.39.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 earnings per share. On average, analysts predict that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

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

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.