Genesis Private Wealth LLC Buys Shares of 1,817 Chevron Co. (NYSE:CVX)

Genesis Private Wealth LLC purchased a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,817 shares of the oil and gas company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter valued at about $31,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 1.2 %

Shares of NYSE:CVX opened at $156.39 on Thursday. The business’s 50-day moving average is $154.09 and its 200 day moving average is $151.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $281.05 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm 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%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 earnings per share. On average, research analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVX shares. UBS Group boosted their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Raymond James upped their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.