Brady Martz Wealth Solutions LLC Purchases New Holdings in Chevron Co. (NYSE:CVX)

Brady Martz Wealth Solutions LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 13,351 shares of the oil and gas company’s stock, valued at approximately $2,095,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth approximately $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.4 %

Shares of Chevron stock opened at $161.54 on Monday. The company’s fifty day simple moving average is $153.93 and its 200-day simple moving average is $151.05. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.05 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Raymond James lifted their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.