Bernard Wealth Management Corp. Makes New $162,000 Investment in Chevron Co. (NYSE:CVX)

Bernard Wealth Management Corp. acquired a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,073 shares of the oil and gas company’s stock, valued at approximately $162,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allianz SE bought a new stake in shares of Chevron during the 4th quarter worth approximately $9,369,000. Nicholas Company Inc. raised its position in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Chevron in the fourth quarter valued at $594,000. Cerity Partners LLC grew its position in shares of Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Chevron by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock worth $17,101,000 after purchasing an additional 7,557 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $139.81 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The company’s 50 day moving average price is $157.04 and its two-hundred day moving average price is $154.21. The firm has a market cap of $246.15 billion, a PE ratio of 14.38, a PEG ratio of 1.46 and a beta of 0.93.

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 in the prior year, the business posted $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.53.

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.