Berry Wealth Group LP Buys Shares of 2,333 Chevron Co. (NYSE:CVX)

Berry Wealth Group LP purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,333 shares of the oil and gas company’s stock, valued at approximately $348,000.

Several other institutional investors have also modified their holdings of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth about $33,000. Legacy Financial Group LLC purchased a new stake in shares of Chevron in the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc increased its stake in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $185.35.

Chevron Trading Down 1.0 %

Shares of NYSE CVX traded down $1.62 during midday trading on Wednesday, hitting $159.65. The stock had a trading volume of 2,945,853 shares, compared to its average volume of 8,383,524. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market capitalization of $296.51 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. The company has a fifty day moving average price of $156.96 and a 200 day moving average price of $151.68.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 13.71 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Chevron 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.