Impact Partnership Wealth LLC Buys 715 Shares of Chevron Co. (NYSE:CVX)

Impact Partnership Wealth LLC raised its stake in Chevron Co. (NYSE:CVX) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,716 shares of the oil and gas company’s stock after buying an additional 715 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Chevron were worth $1,118,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CVX. International Assets Investment Management LLC raised its holdings in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Chevron by 0.6% in the third 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 purchasing an additional 874,962 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction 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 company insiders.

Chevron Trading Down 0.3 %

Shares of Chevron stock opened at $155.62 on Friday. The firm has a 50-day moving average of $153.81 and a 200-day moving average of $151.15. The stock has a market cap of $279.66 billion, a PE ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $3.05 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given 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 dividend yield of 4.19%. Chevron’s payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank lowered 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. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.