Chevron Co. (NYSE:CVX) Shares Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. boosted its position in Chevron Co. (NYSE:CVX) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,066 shares of the oil and gas company’s stock after purchasing an additional 7,557 shares during the period. Chevron comprises 0.6% of Wedbush Securities Inc.’s investment portfolio, making the stock its 19th biggest position. Wedbush Securities Inc.’s holdings in Chevron were worth $17,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Bank boosted its stake in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $2,370,000. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Chevron by 87.7% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,708 shares of the oil and gas company’s stock worth $841,000 after buying an additional 2,667 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Chevron by 1,202.3% during the third quarter. Two Sigma Advisers LP now owns 245,563 shares of the oil and gas company’s stock worth $36,164,000 after buying an additional 226,707 shares in the last quarter. Finally, Wills Financial Group Inc. raised its position in shares of Chevron by 5.0% in the third quarter. Wills Financial Group Inc. now owns 38,004 shares of the oil and gas company’s stock valued at $5,597,000 after buying an additional 1,817 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, 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 document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $143.10 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $251.95 billion, a PE ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93. The company’s fifty day simple moving average is $157.38 and its 200-day simple moving average is $154.10. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business earned $3.45 earnings per share. As a group, equities research 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. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.78%. Chevron’s 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.