Wealthquest Corp Raises Stake in Chevron Co. (NYSE:CVX)

Wealthquest Corp increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,317 shares of the oil and gas company’s stock after buying an additional 95 shares during the quarter. Wealthquest Corp’s holdings in Chevron were worth $770,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Rational Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $47,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVX shares. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Down 2.0 %

NYSE CVX opened at $158.16 on Wednesday. The business’s 50-day moving average is $154.03 and its 200 day moving average is $151.04. The stock has a market capitalization of $284.23 billion, a PE ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12. 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.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 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 the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.21 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.