WealthTrust Axiom LLC Purchases 200 Shares of Chevron Co. (NYSE:CVX)

WealthTrust Axiom LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,329 shares of the oil and gas company’s stock after acquiring an additional 200 shares during the period. WealthTrust Axiom LLC’s holdings in Chevron were worth $2,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Capital Management LLC grew its holdings in shares of Chevron by 1.5% during the fourth quarter. Advisors Capital Management LLC now owns 562,406 shares of the oil and gas company’s stock worth $81,459,000 after purchasing an additional 8,376 shares during the last quarter. Entruity Wealth LLC bought a new stake in Chevron during the 4th quarter worth approximately $1,389,000. Sagespring Wealth Partners LLC bought a new stake in Chevron during the 4th quarter worth approximately $4,432,000. Townsquare Capital LLC raised its stake in shares of Chevron by 10.8% during the fourth quarter. Townsquare Capital LLC now owns 272,527 shares of the oil and gas company’s stock valued at $39,473,000 after acquiring an additional 26,529 shares during the last quarter. Finally, Crux Wealth Advisors acquired a new position in shares of Chevron during the fourth quarter worth $220,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $135.49 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 firm’s 50-day moving average price is $155.34 and its 200-day moving average price is $153.81. The firm has a market capitalization of $238.54 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last issued 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm earned $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. 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 report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $172.20.

Chevron Company 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.