WealthPlan Investment Management LLC Purchases 51,485 Shares of Chevron Co. (NYSE:CVX)

WealthPlan Investment Management LLC grew its position in shares of Chevron Co. (NYSE:CVXFree Report) by 2,493.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,550 shares of the oil and gas company’s stock after acquiring an additional 51,485 shares during the quarter. Chevron accounts for approximately 1.0% of WealthPlan Investment Management LLC’s portfolio, making the stock its 20th largest holding. WealthPlan Investment Management LLC’s holdings in Chevron were worth $9,030,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. V Wealth Advisors LLC lifted its position in shares of Chevron by 0.9% during the 2nd quarter. V Wealth Advisors LLC now owns 7,007 shares of the oil and gas company’s stock worth $1,102,000 after buying an additional 62 shares in the last quarter. Addison Capital Co lifted its holdings in Chevron by 1.9% during the second quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 63 shares during the period. Sweet Financial Partners LLC boosted its position in Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI grew its stake in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the period. Finally, NCM Capital Management LLC increased its position in shares of Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Morgan Stanley decreased their price target on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. Truist Financial dropped their price objective on Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Sanford C. Bernstein raised Chevron from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $184.00 to $182.00 in a research report on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.95.

Read Our Latest Report on Chevron

Chevron Stock Performance

NYSE CVX opened at $151.04 on Friday. The company’s 50 day simple moving average is $147.87 and its two-hundred day simple moving average is $154.57. The stock has a market capitalization of $285.13 billion, a PE ratio of 13.30, a P/E/G ratio of 0.82 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $173.51.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company earned $4.09 earnings per share. Analysts predict that Chevron Co. will post 13.03 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 16th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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