Chevron Co. (NYSE:CVX) Shares Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its position in Chevron Co. (NYSE:CVX) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,083 shares of the oil and gas company’s stock after acquiring an additional 106 shares during the period. Marks Group Wealth Management Inc’s holdings in Chevron were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVX. Windsor Advisory Group LLC lifted its position in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the period. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc increased its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the fourth quarter valued at $254,000. Finally, Strategic Financial Concepts LLC increased its holdings in Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the 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 sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $162.12 on Wednesday. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm’s 50 day moving average price is $155.88 and its 200-day moving average price is $151.66. The firm has a market cap of $301.10 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the firm earned $4.09 EPS. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Truist Financial cut their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

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.