Geneos Wealth Management Inc. Buys 2,697 Shares of Chevron Co. (NYSE:CVX)

Geneos Wealth Management Inc. grew its position in Chevron Co. (NYSE:CVX) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,362 shares of the oil and gas company’s stock after purchasing an additional 2,697 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Chevron were worth $5,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter worth about $29,000. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $31,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Chevron in the third quarter worth $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Shares of NYSE CVX opened at $155.62 on Friday. The company has a market cap of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. The firm has a 50-day simple moving average of $153.81 and a two-hundred day simple moving average of $151.15. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 EPS. Research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James boosted their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four investment 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 a consensus target price of $175.27.

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.