FAS Wealth Partners Inc. Buys 2,717 Shares of Chevron Co. (NYSE:CVX)

FAS Wealth Partners Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,610 shares of the oil and gas company’s stock after purchasing an additional 2,717 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Chevron were worth $4,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new stake in Chevron in the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the third quarter worth about $35,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron in the first quarter worth about $36,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Performance

Shares of NYSE:CVX opened at $159.82 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business’s 50 day moving average price is $152.56 and its 200-day moving average price is $152.41. The firm has a market capitalization of $296.83 billion, a PE ratio of 14.07, a P/E/G ratio of 2.42 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for 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 revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.13 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

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.