Balanced Wealth Group LLC Makes New $250,000 Investment in Chevron Co. (NYSE:CVX)

Balanced Wealth Group LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,673 shares of the oil and gas company’s stock, valued at approximately $250,000.

A number of other institutional investors also recently modified their holdings of the business. Windsor Advisory Group LLC increased its holdings in Chevron by 24.0% in 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 raised its position in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its stake in shares of Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $254,000. Finally, Kapstone Financial Advisors LLC grew its stake in Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of NYSE CVX traded down $0.13 during midday trading on Wednesday, reaching $162.54. 6,684,371 shares of the stock were exchanged, compared to its average volume of 8,445,723. The stock has a market capitalization of $300.21 billion, a P/E ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a 50 day simple moving average of $157.62 and a 200 day simple moving average of $151.45.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several brokerages have issued reports on CVX. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred 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 directly owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,247 shares of company stock valued at $2,154,164. Company insiders own 0.20% of the company’s stock.

Chevron 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.