Straight Path Wealth Management Acquires 170 Shares of Chevron Co. (NYSE:CVX)

Straight Path Wealth Management increased its holdings in shares of Chevron Co. (NYSE:CVX) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,791 shares of the oil and gas company’s stock after acquiring an additional 170 shares during the period. Straight Path Wealth Management’s holdings in Chevron were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Picton Mahoney Asset Management bought a new stake in Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $33,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the 3rd quarter valued at $35,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at $36,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Piper Sandler cut their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.32.

Chevron Trading Up 0.2 %

CVX opened at $160.69 on Friday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The business has a fifty day simple moving average of $153.47 and a 200-day simple moving average of $152.48. The firm has a market cap of $298.44 billion, a P/E ratio of 14.15, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the business posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Chevron Company 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.