Foster Victor Wealth Advisors LLC Buys 51,947 Shares of Chevron Co. (NYSE:CVX)

Foster Victor Wealth Advisors LLC raised its stake in Chevron Co. (NYSE:CVX) by 2,251.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 54,254 shares of the oil and gas company’s stock after purchasing an additional 51,947 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Chevron were worth $8,560,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC grew its holdings in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new position in shares of Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the 4th quarter valued at $30,000. Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC grew its holdings in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial reduced their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. TD Cowen increased their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Up 0.3 %

Shares of NYSE:CVX traded up $0.47 on Friday, hitting $147.27. The company had a trading volume of 6,874,416 shares, compared to its average volume of 7,867,067. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $153.82 and its two-hundred day simple moving average is $155.96. The firm has a market capitalization of $269.35 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.08 earnings per share. Equities analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.43%. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.