Priebe Wealth Holdings LLC Acquires Shares of 1,589 Chevron Co. (NYSE:CVX)

Priebe Wealth Holdings LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,589 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% in the 3rd 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 buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James upped their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Down 2.0 %

CVX stock opened at $158.16 on Wednesday. The stock has a 50-day simple moving average of $154.03 and a two-hundred day simple moving average of $151.04. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market capitalization of $284.23 billion, a PE ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.21 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $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 can be accessed through this link. 0.20% of the stock is owned by corporate 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.