Wealth Enhancement Advisory Services LLC Raises Stake in Chevron Co. (NYSE:CVX)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,029,649 shares of the oil and gas company's stock after buying an additional 148,050 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.06% of Chevron worth $149,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its holdings in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three investment 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. Based on data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Trading Down 1.3%

Shares of CVX traded down $1.78 during trading hours on Wednesday, reaching $136.05. 6,859,635 shares of the company traded hands, compared to its average volume of 8,082,542. The company's fifty day moving average price is $143.01 and its two-hundred day moving average price is $150.83. The company has a market capitalization of $237.60 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. 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 Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio 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.