Wallace Advisory Group LLC Acquires 310 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

Wallace Advisory Group LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,549 shares of the oil and gas company’s stock after purchasing an additional 310 shares during the period. Chevron accounts for approximately 4.6% of Wallace Advisory Group LLC’s holdings, making the stock its 2nd largest holding. Wallace Advisory Group LLC’s holdings in Chevron were worth $6,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVX shares. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Read Our Latest Analysis on CVX

Chevron Price Performance

CVX opened at $156.85 on Wednesday. The stock has a market cap of $281.87 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $153.78 and a 200 day simple moving average of $150.95.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Profile

(Free Report)

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.

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