Parkshore Wealth Management Inc. Invests $389,000 in Chevron Co. (NYSE:CVX)

Parkshore Wealth Management Inc. bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,685 shares of the oil and gas company's stock, valued at approximately $389,000.

Other large investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new stake in Chevron during the 4th quarter valued at approximately $9,369,000. Nicholas Company Inc. lifted its holdings in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in shares of Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after purchasing an additional 2,755 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter worth approximately $594,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $166.06.

Chevron Trading Down 2.3 %

CVX stock traded down $3.22 during midday trading on Wednesday, reaching $136.08. The company's stock had a trading volume of 13,846,293 shares, compared to its average volume of 7,958,940. The business's 50-day simple moving average is $150.96 and its 200-day simple moving average is $152.82. The stock has a market cap of $239.58 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. 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 (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the prior year, the business earned $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 5.03%. Chevron's dividend payout ratio is 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm'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 directly owns 1,057 shares of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.20% of the company's stock.

Chevron Company 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.