Avidian Wealth Enterprises LLC Purchases 82 Shares of Chevron Co. (NYSE:CVX)

Avidian Wealth Enterprises LLC raised its holdings in Chevron Co. (NYSE:CVX) by 0.2% during the fourth quarter, HoldingsChannel reports. The firm owned 41,562 shares of the oil and gas company’s stock after acquiring an additional 82 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Chevron were worth $6,020,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $157.43 on Wednesday. The business has a 50 day moving average of $152.08 and a 200-day moving average of $150.81. 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 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $282.91 billion, a PE ratio of 16.20, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.34%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

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.