Global Wealth Management Investment Advisory Inc. Boosts Holdings in Chevron Co. (NYSE:CVX)

Global Wealth Management Investment Advisory Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,578 shares of the oil and gas company’s stock after purchasing an additional 5,402 shares during the quarter. Chevron comprises 1.6% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 17th largest position. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $6,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Trust Co. of Toledo NA OH grew its holdings in shares of Chevron by 4.8% during the third quarter. Trust Co. of Toledo NA OH now owns 61,737 shares of the oil and gas company’s stock valued at $10,410,000 after buying an additional 2,837 shares during the last quarter. Uncommon Cents Investing LLC raised its position in Chevron by 2.1% in the 3rd quarter. Uncommon Cents Investing LLC now owns 12,072 shares of the oil and gas company’s stock worth $2,036,000 after buying an additional 250 shares during the last quarter. Evanson Asset Management LLC lifted its stake in Chevron by 8.2% during the 3rd quarter. Evanson Asset Management LLC now owns 17,236 shares of the oil and gas company’s stock valued at $2,906,000 after acquiring an additional 1,299 shares during the period. Charles Schwab Trust Co boosted its holdings in shares of Chevron by 64.7% during the 3rd quarter. Charles Schwab Trust Co now owns 26,474 shares of the oil and gas company’s stock valued at $4,464,000 after acquiring an additional 10,396 shares during the last quarter. Finally, Lineweaver Wealth Advisors LLC raised its holdings in shares of Chevron by 82.5% during the third quarter. Lineweaver Wealth Advisors LLC now owns 12,073 shares of the oil and gas company’s stock valued at $2,036,000 after purchasing an additional 5,459 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.1 %

Shares of CVX traded down $1.71 during mid-day trading on Wednesday, hitting $159.56. The company’s stock had a trading volume of 2,592,079 shares, compared to its average volume of 8,380,407. The firm has a market capitalization of $296.35 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. The company’s 50-day moving average is $156.96 and its 200-day moving average is $151.68. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $3.55 EPS. On average, equities research analysts forecast that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. HSBC upped their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and fourteen 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 price target of $185.35.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

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.