Greykasell Wealth Strategies Inc. Takes $836,000 Position in Chevron Co. (NYSE:CVX)

Greykasell Wealth Strategies Inc. purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,775 shares of the oil and gas company’s stock, valued at approximately $836,000.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of analyst reports. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 2.3 %

Shares of Chevron stock opened at $157.10 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a fifty day simple moving average of $155.03 and a 200-day simple moving average of $151.98. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. Chevron’s dividend payout ratio is 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.