ICA Group Wealth Management LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

ICA Group Wealth Management LLC increased its position in Chevron Co. (NYSE:CVX) by 3.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,549 shares of the oil and gas company’s stock after purchasing an additional 493 shares during the period. ICA Group Wealth Management LLC’s holdings in Chevron were worth $2,319,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVX. Loomis Sayles & Co. L P lifted its holdings in shares of Chevron by 10.3% during the third quarter. Loomis Sayles & Co. L P now owns 2,381 shares of the oil and gas company’s stock valued at $401,000 after purchasing an additional 223 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Chevron by 2.6% during the third quarter. Nordea Investment Management AB now owns 418,637 shares of the oil and gas company’s stock valued at $70,578,000 after purchasing an additional 10,804 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Chevron during the third quarter valued at $2,551,000. Sargent Investment Group LLC lifted its holdings in shares of Chevron by 15.6% during the third quarter. Sargent Investment Group LLC now owns 14,853 shares of the oil and gas company’s stock valued at $2,505,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. lifted its holdings in shares of Chevron by 5.3% during the third quarter. Bowen Hanes & Co. Inc. now owns 22,101 shares of the oil and gas company’s stock valued at $3,727,000 after purchasing an additional 1,110 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

CVX opened at $153.23 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a 50 day simple moving average of $159.78 and a two-hundred day simple moving average of $153.99. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market cap of $282.40 billion, a P/E ratio of 14.10, a PEG ratio of 2.27 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the business earned $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. Chevron’s dividend payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Truist Financial raised their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Mizuho upped their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

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.