Western Wealth Management LLC Acquires 690 Shares of Chevron Co. (NYSE:CVX)

Western Wealth Management LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,146 shares of the oil and gas company’s stock after acquiring an additional 690 shares during the period. Western Wealth Management LLC’s holdings in Chevron were worth $4,795,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC lifted its stake in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC lifted its stake in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC lifted its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded up $2.84 during midday trading on Friday, hitting $160.41. The company had a trading volume of 1,518,605 shares, compared to its average volume of 8,431,626. The stock has a market cap of $297.92 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.36 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $155.26 and a 200 day simple moving average of $151.90. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.38.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the company earned $4.09 EPS. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid 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 dividend on an annualized basis and a dividend yield of 4.06%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial reduced their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Finally, Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.