Chevron Co. (NYSE:CVX) Shares Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC increased its position in Chevron Co. (NYSE:CVX) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,254 shares of the oil and gas company’s stock after acquiring an additional 68 shares during the period. Octavia Wealth Advisors LLC’s holdings in Chevron were worth $784,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NCM Capital Management LLC lifted its position in Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after buying an additional 65 shares in the last quarter. Sweet Financial Partners LLC lifted its position in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares during the period. Strategic Investment Advisors MI lifted its position in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the period. Alera Investment Advisors LLC lifted its position in Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 67 shares during the period. Finally, Global Trust Asset Management LLC lifted its position in Chevron by 1.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial cut their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Wells Fargo & Company upped their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Chevron Price Performance

NYSE CVX opened at $156.28 on Wednesday. The business has a 50 day simple moving average of $155.11 and a 200 day simple moving average of $151.83. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the business earned $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

About Chevron

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.