New Wave Wealth Advisors LLC Invests $39,000 in Chevron Co. (NYSE:CVX)

New Wave Wealth Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 266 shares of the oil and gas company’s stock, valued at approximately $39,000.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on CVX shares. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James upped their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler lowered 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Trading Down 4.5 %

NYSE CVX opened at $149.21 on Friday. The firm has a market capitalization of $268.14 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The business’s 50-day moving average price is $153.46 and its two-hundred day moving average price is $151.20. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same period in the prior year, the firm earned $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were 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 owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.