Chevron Co. (NYSE:CVX) Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. raised its stake in Chevron Co. (NYSE:CVX) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,416 shares of the oil and gas company’s stock after purchasing an additional 4,341 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Chevron were worth $10,652,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake 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 purchasing an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new position in Chevron in the third quarter worth about $35,000. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter worth about $33,000. Finally, Worth Asset Management LLC acquired a new position in Chevron in the first quarter worth about $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE CVX opened at $161.60 on Monday. The stock has a market capitalization of $300.13 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.46 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The business’s fifty day moving average is $153.72 and its two-hundred day moving average is $152.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its earnings results 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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the previous year, the business earned $4.09 EPS. The company’s revenue was down 16.5% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 13.13 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced 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. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVX shares. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Finally, Piper Sandler dropped their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.63.

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.