Wealth Architects LLC Buys 691 Shares of Chevron Co. (NYSE:CVX)

Wealth Architects LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,530 shares of the oil and gas company’s stock after purchasing an additional 691 shares during the quarter. Wealth Architects LLC’s holdings in Chevron were worth $511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pettinga Financial Advisors LLC increased its stake in Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 272 shares during the last quarter. United Bank boosted its holdings in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares in the last quarter. ING Groep NV purchased a new position in shares of Chevron in the 3rd quarter worth about $732,000. Kinsale Capital Group Inc. boosted its holdings in shares of Chevron by 1.2% in the 3rd quarter. Kinsale Capital Group Inc. now owns 37,143 shares of the oil and gas company’s stock worth $5,470,000 after purchasing an additional 425 shares in the last quarter. Finally, Accredited Investors Inc. boosted its holdings in shares of Chevron by 2.7% in the 3rd quarter. Accredited Investors Inc. now owns 5,380 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 142 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $157.10 on Monday. 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 Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a PEG ratio of 1.46 and a beta of 1.08. The business has a fifty day moving average of $155.03 and a 200 day moving average of $152.06.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business posted $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.35%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate 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.