Wetzel Investment Advisors Inc. Acquires New Stake in Chevron Co. (NYSE:CVX)

Wetzel Investment Advisors Inc. bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,812 shares of the oil and gas company’s stock, valued at approximately $270,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $33,000. Worth Asset Management LLC acquired a new stake in Chevron in the first quarter valued at approximately $36,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Chevron during the third quarter worth $43,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Chevron Trading Up 1.5 %

Chevron stock traded up $2.43 during trading hours on Friday, hitting $160.00. The stock had a trading volume of 7,734,654 shares, compared to its average volume of 6,934,255. Chevron Co. has a one year low of $139.62 and a one year high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $297.16 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.38 and a beta of 1.12. The business’s 50 day simple moving average is $155.44 and its 200-day simple moving average is $151.86.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company earned $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Tuesday, February 6th. Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

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.