Wealth Architects LLC Acquires 691 Shares of Chevron Co. (NYSE:CVX)

Wealth Architects LLC increased its position in Chevron Co. (NYSE:CVX) by 24.3% during the 4th quarter, Holdings Channel reports. The firm owned 3,530 shares of the oil and gas company’s stock after acquiring an additional 691 shares during the quarter. Wealth Architects LLC’s holdings in Chevron were worth $511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wallace Capital Management Inc. grew its stake in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC grew its stake in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its position in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its position in Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.3 %

CVX stock opened at $157.10 on Monday. 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. The stock has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.46 and a beta of 1.08. The business’s 50-day moving average is $155.03 and its 200 day moving average is $152.06.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the firm earned $3.45 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.