Wealthquest Corp Makes New $887,000 Investment in Chevron Corporation $CVX

Key Points

• Wealthquest Corp initiated a new position in Chevron, buying 5,818 shares valued at about $887,000 in the fourth quarter.
• Chevron continues to attract institutional interest, with several other funds also adding to or opening stakes, and institutional investors now own 72.42% of the stock.
• The company reported better-than-expected earnings of $1.41 per share, while also announcing a quarterly dividend of $1.78 per share that yields about 3.7% annually.

Wealthquest Corp bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 5,818 shares of the oil and gas company's stock, valued at approximately $887,000.

A number of other large investors also recently made changes to their positions in CVX. Dakota Wealth Management raised its position in shares of Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $431,000. Clear Trail Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $10,167,000. Finemark National Bank & Trust increased its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock worth $8,779,000 after purchasing an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC bought a new stake in Chevron during the 4th quarter worth approximately $1,381,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.0%

NYSE CVX opened at $191.51 on Monday. Chevron Corporation has a 52 week low of $134.06 and a 52 week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock's 50 day moving average price is $193.54 and its two-hundred day moving average price is $174.75. The stock has a market capitalization of $381.42 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. During the same period last year, the business earned $2.18 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio (DPR) is 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Piper Sandler increased their price objective on shares of Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a report on Friday, April 17th. Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.22.

Insiders Place Their Bets

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,179,699 shares of company stock valued at $224,675,517 in the last quarter. Company insiders own 0.56% of the company's stock.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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