RMR Wealth Builders Acquires 391 Shares of Chevron Co. (NYSE:CVX)

RMR Wealth Builders raised its stake in Chevron Co. (NYSE:CVX) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,095 shares of the oil and gas company’s stock after acquiring an additional 391 shares during the quarter. RMR Wealth Builders’ holdings in Chevron were worth $2,621,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVX. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Trading Up 2.0 %

Shares of Chevron stock traded up $2.99 during trading on Friday, reaching $153.29. 11,072,701 shares of the stock were exchanged, compared to its average volume of 7,539,276. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $275.48 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock’s fifty day moving average is $153.68 and its 200 day moving average is $151.08.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.25%. Chevron’s dividend payout ratio is currently 71.65%.

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.