Laidlaw Wealth Management LLC Has $570,000 Stock Position in Chevron Co. (NYSE:CVX)

Laidlaw Wealth Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 7.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,937 shares of the oil and gas company’s stock after buying an additional 289 shares during the period. Laidlaw Wealth Management LLC’s holdings in Chevron were worth $570,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity 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 completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.6 %

Shares of Chevron stock opened at $156.23 on Wednesday. The firm has a 50-day moving average of $151.80 and a 200-day moving average of $150.81. The stock has a market cap of $280.76 billion, a PE ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

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.