Rench Wealth Management Inc. Acquires 349 Shares of Chevron Co. (NYSE:CVX)

Rench Wealth Management Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,364 shares of the oil and gas company’s stock after buying an additional 349 shares during the period. Rench Wealth Management Inc.’s holdings in Chevron were worth $3,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Hancock Whitney Corp grew its position in shares of Chevron by 1.1% in the fourth quarter. Hancock Whitney Corp now owns 95,837 shares of the oil and gas company’s stock valued at $14,295,000 after purchasing an additional 1,000 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $17,659,000. Greystone Financial Group LLC grew its position in Chevron by 52.0% during the fourth quarter. Greystone Financial Group LLC now owns 36,070 shares of the oil and gas company’s stock worth $5,380,000 after buying an additional 12,347 shares in the last quarter. Bridgewater Associates LP grew its position in Chevron by 952.5% during the fourth quarter. Bridgewater Associates LP now owns 76,812 shares of the oil and gas company’s stock worth $11,457,000 after buying an additional 69,514 shares in the last quarter. Finally, Visionary Wealth Advisors grew its position in Chevron by 3.1% during the fourth quarter. Visionary Wealth Advisors now owns 66,259 shares of the oil and gas company’s stock worth $9,883,000 after buying an additional 1,996 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

Chevron stock traded down $0.47 during trading hours on Tuesday, reaching $156.27. 1,727,549 shares of the company’s stock were exchanged, compared to its average volume of 7,983,747. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $160.47 and its 200 day simple moving average is $153.66. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market capitalization of $288.00 billion, a PE ratio of 14.34, a PEG ratio of 2.32 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $3.55 EPS. Research analysts predict that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVX shares. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Mizuho upped their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $186.95.

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.