Chevron Co. (NYSE:CVX) Shares Bought by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,647 shares of the oil and gas company’s stock after acquiring an additional 775 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Chevron were worth $1,687,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C bought a new stake in Chevron in the 2nd quarter valued at about $244,000. Scientech Research LLC grew its stake in shares of Chevron by 132.3% in the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 2,849 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of Chevron by 6.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock worth $432,000 after purchasing an additional 167 shares during the last quarter. Creative Planning grew its stake in shares of Chevron by 1.8% in the 2nd quarter. Creative Planning now owns 569,660 shares of the oil and gas company’s stock worth $89,106,000 after purchasing an additional 10,291 shares during the last quarter. Finally, Copperwynd Financial LLC increased its position in shares of Chevron by 15.8% in the second quarter. Copperwynd Financial LLC now owns 5,110 shares of the oil and gas company’s stock worth $820,000 after acquiring an additional 696 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CVX shares. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Down 0.3 %

Shares of CVX stock opened at $155.62 on Monday. 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 stock has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $151.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts forecast 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. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s payout ratio is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value 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 represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.