Gray Wealth Management Inc. Has $820,000 Stock Position in Chevron Co. (NYSE:CVX)

Gray Wealth Management Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,499 shares of the oil and gas company’s stock after selling 631 shares during the period. Gray Wealth Management Inc.’s holdings in Chevron were worth $820,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Windsor Advisory Group LLC lifted its position in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the period. Renaissance Investment Group LLC lifted its position in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc grew its stake in shares of Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $254,000. Finally, Strategic Financial Concepts LLC increased its position in Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’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 value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Trading Up 1.6 %

Shares of NYSE:CVX traded up $2.57 during trading on Friday, reaching $160.14. 1,409,472 shares of the company traded hands, compared to its average volume of 8,431,626. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The firm has a market capitalization of $297.42 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.36 and a beta of 1.12. The business’s fifty day moving average is $155.26 and its 200-day moving average is $151.90.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating 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 analyst estimates of $50.93 billion. During the same quarter in the prior year, the company posted $4.09 EPS. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.07%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVX shares. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.