Blodgett Wealth Advisors LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Blodgett Wealth Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,691 shares of the oil and gas company’s stock after purchasing an additional 125 shares during the period. Chevron accounts for 0.7% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 25th largest position. Blodgett Wealth Advisors LLC’s holdings in Chevron were worth $700,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $33,000. Legacy Financial Group LLC purchased a new position in Chevron during the third quarter worth about $43,000. Finally, Roble Belko & Company Inc increased its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Up 0.4 %

Shares of Chevron stock traded up $0.61 during midday trading on Friday, reaching $165.89. 9,736,350 shares of the company’s stock traded hands, compared to its average volume of 7,082,480. The company has a market cap of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The stock has a 50 day moving average of $156.58 and a 200-day moving average of $151.83. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 57.39%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company 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.