Chevron Co. (NYSE:CVX) Position Boosted by Parisi Gray Wealth Management

Parisi Gray Wealth Management boosted its holdings in Chevron Co. (NYSE:CVX) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,435 shares of the oil and gas company’s stock after buying an additional 130 shares during the quarter. Parisi Gray Wealth Management’s holdings in Chevron were worth $353,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. Marietta Wealth Management LLC lifted its holdings in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Leo Wealth LLC lifted its stake in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its holdings in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.07 on Tuesday. The company has a market cap of $278.67 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.93 and a beta of 1.12. The business has a 50 day moving average price of $153.71 and a 200 day moving average price of $150.94. 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 twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $3.05 earnings per share. Research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Truist Financial increased their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.