Bulltick Wealth Management LLC Takes Position in Chevron Co. (NYSE:CVX)

Bulltick Wealth Management LLC acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,785 shares of the oil and gas company's stock, valued at approximately $1,997,000.

Other large investors have also bought and sold shares of the company. Neville Rodie & Shaw Inc. boosted its position in shares of Chevron by 2.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company's stock worth $9,039,000 after buying an additional 1,767 shares during the period. Bard Financial Services Inc. boosted its position in Chevron by 0.3% during the 4th quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company's stock worth $9,087,000 after acquiring an additional 200 shares during the period. Doliver Advisors LP grew its stake in Chevron by 0.9% during the 4th quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company's stock valued at $1,156,000 after acquiring an additional 70 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Chevron by 0.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company's stock valued at $29,115,000 after purchasing an additional 1,092 shares during the period. Finally, Canandaigua National Trust Co of Florida lifted its position in shares of Chevron by 17.2% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 3,415 shares of the oil and gas company's stock worth $495,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Raymond James reduced 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. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $165.27.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company'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 transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of CVX stock opened at $138.53 on Monday. The stock has a 50 day moving average of $149.76 and a two-hundred day moving average of $152.57. The company has a market capitalization of $243.90 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. 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 (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the firm posted $2.93 EPS. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron's payout ratio is 78.17%.

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.

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