Connecticut Wealth Management LLC Purchases 2,342 Shares of Chevron Co. (NYSE:CVX)

Connecticut Wealth Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,465 shares of the oil and gas company’s stock after purchasing an additional 2,342 shares during the period. Connecticut Wealth Management LLC’s holdings in Chevron were worth $1,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in Chevron during the 3rd quarter valued at $26,000. Bare Financial Services Inc purchased a new position in shares of Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in shares of Chevron by 80.0% in 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 during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $33,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $43,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock traded down $0.48 during mid-day trading on Friday, reaching $160.25. 11,664,505 shares of the stock traded hands, compared to its average volume of 7,516,580. The business has a 50-day moving average of $157.26 and a 200 day moving average of $151.53. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $297.63 billion, a PE ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. 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 (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.55 earnings per share. On average, analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on 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 directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.