Vestia Personal Wealth Advisors Takes $318,000 Position in Chevron Co. (NYSE:CVX)

Vestia Personal Wealth Advisors bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,195 shares of the oil and gas company’s stock, valued at approximately $318,000.

Several other hedge funds also recently bought and sold shares of the company. Choreo LLC grew its position in Chevron by 27.1% in the fourth quarter. Choreo LLC now owns 135,707 shares of the oil and gas company’s stock worth $19,529,000 after acquiring an additional 28,914 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Chevron by 5.4% in the fourth quarter. Tectonic Advisors LLC now owns 7,082 shares of the oil and gas company’s stock worth $1,026,000 after purchasing an additional 364 shares in the last quarter. Money Concepts Capital Corp increased its position in Chevron by 7.1% during the fourth quarter. Money Concepts Capital Corp now owns 7,987 shares of the oil and gas company’s stock worth $1,157,000 after buying an additional 527 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in Chevron by 9.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 41,435 shares of the oil and gas company’s stock valued at $6,464,000 after buying an additional 3,407 shares in the last quarter. Finally, Lion Street Advisors LLC boosted its stake in shares of Chevron by 4.6% during the 4th quarter. Lion Street Advisors LLC now owns 9,316 shares of the oil and gas company’s stock worth $1,349,000 after acquiring an additional 411 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX opened at $153.01 on Thursday. 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 $274.98 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company’s 50-day moving average price is $152.79 and its two-hundred day moving average price is $150.89.

Chevron (NYSE:CVX) last issued its quarterly 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 last year, the business posted $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 67.08%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday. Piper Sandler cut 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. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. 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.