Chevron Co. (NYSE:CVX) Shares Bought by Elite Wealth Management Inc.

Elite Wealth Management Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,737 shares of the oil and gas company’s stock after acquiring an additional 1,000 shares during the period. Chevron comprises 0.0% of Elite Wealth Management Inc.’s holdings, making the stock its 27th largest position. Elite Wealth Management Inc.’s holdings in Chevron were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in Chevron by 80.0% during 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. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron in the first quarter valued at approximately $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $43,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Chevron Stock Up 0.1 %

CVX stock opened at $156.38 on Thursday. Chevron Co. has a one year low of $139.62 and a one year high of $172.39. The firm has a market cap of $290.44 billion, a PE ratio of 13.77, a PEG ratio of 2.30 and a beta of 1.12. The firm’s 50 day moving average price is $155.19 and its 200-day moving average price is $151.86. 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 posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.09 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is presently 57.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.55.

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.