Legacy Capital Wealth Partners LLC Has $1.81 Million Holdings in Chevron Co. (NYSE:CVX)

Legacy Capital Wealth Partners LLC cut its holdings in Chevron Co. (NYSE:CVX) by 1.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,100 shares of the oil and gas company’s stock after selling 170 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Chevron were worth $1,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sweet Financial Partners LLC boosted its stake in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares during the period. Strategic Investment Advisors MI boosted its stake in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the period. Regent Peak Wealth Advisors LLC boosted its stake in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 68 shares during the period. Octavia Wealth Advisors LLC lifted its stake in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the period. Finally, Investment Partners LTD. lifted its stake in Chevron by 0.8% in the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX traded up $0.61 on Friday, hitting $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The stock has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $156.58 and its two-hundred day simple moving average is $151.73. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $3.55 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Truist Financial dropped their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

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.