Parr Mcknight Wealth Management Group LLC Purchases Shares of 55,839 Chevron Co. (NYSE:CVX)

Parr Mcknight Wealth Management Group LLC bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 55,839 shares of the oil and gas company's stock, valued at approximately $8,088,000. Chevron accounts for 1.2% of Parr Mcknight Wealth Management Group LLC's holdings, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. Capital & Planning LLC boosted its position in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after buying an additional 222 shares during the period. First United Bank & Trust boosted its holdings in Chevron by 15.2% in the fourth quarter. First United Bank & Trust now owns 15,735 shares of the oil and gas company's stock valued at $2,279,000 after purchasing an additional 2,075 shares during the last quarter. Segment Wealth Management LLC boosted its holdings in Chevron by 0.5% in the fourth quarter. Segment Wealth Management LLC now owns 28,611 shares of the oil and gas company's stock valued at $4,144,000 after purchasing an additional 152 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in Chevron by 16.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 20,600 shares of the oil and gas company's stock valued at $2,984,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Transform Wealth LLC boosted its holdings in Chevron by 33.0% in the fourth quarter. Transform Wealth LLC now owns 92,437 shares of the oil and gas company's stock valued at $13,389,000 after purchasing an additional 22,948 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CVX shares. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Wells Fargo & Company cut their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

Shares of CVX stock opened at $135.33 on Friday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market capitalization of $236.34 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business has a 50 day simple moving average of $145.15 and a 200 day simple moving average of $151.37. 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 (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

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.

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