Ritholtz Wealth Management Has $3.10 Million Position in Chevron Co. (NYSE:CVX)

Ritholtz Wealth Management lifted its stake in Chevron Co. (NYSE:CVX) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,410 shares of the oil and gas company’s stock after acquiring an additional 1,816 shares during the quarter. Ritholtz Wealth Management’s holdings in Chevron were worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Rational Advisors LLC bought a new stake in Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Raymond James boosted their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. DZ Bank raised shares of 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, Wells Fargo & Company raised their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Chevron

In other 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Up 1.4 %

Shares of CVX stock opened at $161.54 on Friday. Chevron Co. has a one year low of $135.37 and a one 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. The stock has a fifty day moving average price of $153.84 and a 200 day moving average price of $151.06. The stock has a market cap of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 EPS. Analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.