Priebe Wealth Holdings LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Priebe Wealth Holdings LLC bought a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,589 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter valued at $29,000. Rational Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron during the 3rd quarter valued at about $47,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. UBS Group raised their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $158.16 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $284.23 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. The firm has a 50 day moving average of $154.03 and a 200 day moving average of $151.04.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Chevron 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.