Partners in Financial Planning Takes Position in Chevron Co. (NYSE:CVX)

Partners in Financial Planning acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,124 shares of the oil and gas company’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Chevron by 71.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 263,178 shares of the oil and gas company’s stock worth $38,119,000 after acquiring an additional 110,061 shares during the period. Prevail Innovative Wealth Advisors LLC grew its stake in shares of Chevron by 60.1% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 2,242 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 842 shares during the period. United Bank increased its position in shares of Chevron by 19.2% during the 4th quarter. United Bank now owns 9,652 shares of the oil and gas company’s stock valued at $1,398,000 after purchasing an additional 1,557 shares during the last quarter. Joseph Group Capital Management lifted its stake in shares of Chevron by 14.2% in the 4th quarter. Joseph Group Capital Management now owns 18,728 shares of the oil and gas company’s stock worth $2,713,000 after purchasing an additional 2,335 shares during the period. Finally, Sanctuary Wealth Management L.L.C. grew its position in Chevron by 29.2% during the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 420 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 95 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $166.06 on Monday. The stock has a market capitalization of $292.37 billion, a PE ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The business has a 50 day simple moving average of $157.10 and a two-hundred day simple moving average of $153.60. 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 (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.45 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Truist Financial cut their price objective on shares of 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 cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.