Traynor Capital Management Inc. Has $3.16 Million Position in Chevron Co. (NYSE:CVX)

Traynor Capital Management Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,822 shares of the oil and gas company’s stock after buying an additional 4,314 shares during the period. Traynor Capital Management Inc.’s holdings in Chevron were worth $3,161,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter worth $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at $47,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $155.99 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $280.32 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The business has a 50 day moving average price of $154.05 and a 200-day moving average price of $151.11.

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 the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the company posted $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.18%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. Wells Fargo & Company boosted their price target 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. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 4,280 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About Chevron

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.