Rialto Wealth Management LLC Invests $442,000 in Chevron Co. (NYSE:CVX)

Rialto Wealth Management LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,054 shares of the oil and gas company’s stock, valued at approximately $442,000.

A number of other large investors have also added to or reduced their stakes in CVX. Hamilton Capital Partners LLC bought a new stake in Chevron during the fourth quarter worth about $398,000. Lifeworks Advisors LLC raised its position in shares of Chevron by 58.2% in the 4th quarter. Lifeworks Advisors LLC now owns 2,500 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 920 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Chevron by 15.8% during the 4th quarter. Larson Financial Group LLC now owns 22,434 shares of the oil and gas company’s stock worth $3,249,000 after acquiring an additional 3,055 shares during the period. HM Payson & Co. boosted its position in shares of Chevron by 3.8% during the 4th quarter. HM Payson & Co. now owns 227,882 shares of the oil and gas company’s stock worth $33,006,000 after acquiring an additional 8,356 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in Chevron in the fourth quarter valued at approximately $5,259,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Up 2.3 %

Shares of CVX opened at $156.48 on Friday. The stock’s 50-day moving average price is $154.08 and its two-hundred day moving average price is $151.69. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $275.51 billion, a PE ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s dividend payout ratio is 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.