Chevron Co. (NYSE:CVX) Shares Acquired by Rede Wealth LLC

Rede Wealth LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 10.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,333 shares of the oil and gas company’s stock after acquiring an additional 212 shares during the quarter. Rede Wealth LLC’s holdings in Chevron were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Watts Gwilliam & Co. LLC bought a new position in Chevron during the 3rd quarter valued at $600,000. Private Advisory Group LLC acquired a new stake in shares of Chevron in the third quarter valued at $247,000. Ferguson Shapiro LLC boosted its stake in Chevron by 9.9% during the third quarter. Ferguson Shapiro LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 268 shares in the last quarter. Walker Financial Services Inc. grew its holdings in Chevron by 11.6% during the third quarter. Walker Financial Services Inc. now owns 2,053 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 213 shares during the period. Finally, Juncture Wealth Strategies LLC lifted its holdings in Chevron by 42.8% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,503 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $152.54 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. The stock has a market cap of $274.13 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. The firm has a 50 day simple moving average of $152.21 and a 200 day simple moving average of $150.88. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. Research analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.48%. Chevron’s payout ratio is 67.08%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.