Wealth Dimensions Group Ltd. Acquires 702 Shares of Chevron Co. (NYSE:CVX)

Wealth Dimensions Group Ltd. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 13.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,993 shares of the oil and gas company’s stock after acquiring an additional 702 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Chevron were worth $883,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares during the period. Pacer Advisors Inc. boosted its stake in Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after buying an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.5 %

Shares of NYSE CVX opened at $162.36 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50-day moving average is $151.58 and its 200-day moving average is $152.62. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $291.78 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $3.05 earnings per share. Equities analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group boosted their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.