Northwest Financial Advisors Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Northwest Financial Advisors lifted its position in Chevron Co. (NYSE:CVX) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the oil and gas company’s stock after purchasing an additional 134 shares during the quarter. Northwest Financial Advisors’ holdings in Chevron were worth $250,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company increased 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. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

CVX stock opened at $156.24 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. 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 $280.78 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The stock’s fifty day moving average price is $153.74 and its 200-day moving average price is $151.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 4.17%. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

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.