Global Wealth Management Investment Advisory Inc. Buys 6,149 Shares of Chevron Co. (NYSE:CVX)

Global Wealth Management Investment Advisory Inc. increased its position in Chevron Co. (NYSE:CVX) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,389 shares of the oil and gas company’s stock after purchasing an additional 6,149 shares during the quarter. Chevron makes up about 1.9% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 16th biggest position. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $9,181,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Eukles Asset Management lifted its position in shares of Chevron by 3.8% in the 4th quarter. Eukles Asset Management now owns 2,927 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 107 shares during the period. Soltis Investment Advisors LLC raised its stake in Chevron by 12.4% in the fourth quarter. Soltis Investment Advisors LLC now owns 79,500 shares of the oil and gas company’s stock worth $11,515,000 after buying an additional 8,744 shares in the last quarter. Thomas Story & Son LLC boosted its position in Chevron by 43.4% during the 4th quarter. Thomas Story & Son LLC now owns 49,800 shares of the oil and gas company’s stock valued at $7,213,000 after acquiring an additional 15,080 shares in the last quarter. Silicon Valley Capital Partners increased its holdings in shares of Chevron by 8.3% in the 4th quarter. Silicon Valley Capital Partners now owns 6,766 shares of the oil and gas company’s stock valued at $980,000 after acquiring an additional 521 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Chevron in the 4th quarter worth $1,107,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were 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. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX opened at $152.54 on Monday. The firm has a 50 day moving average of $152.21 and a two-hundred day moving average of $150.85. The firm has a market capitalization of $274.13 billion, a PE ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 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.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.48%. Chevron’s payout ratio is presently 67.08%.

About Chevron

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.