Highline Wealth Partners LLC Acquires 84 Shares of Chevron Co. (NYSE:CVX)

Highline Wealth Partners LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 643 shares of the oil and gas company’s stock after purchasing an additional 84 shares during the quarter. Highline Wealth Partners LLC’s holdings in Chevron were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.9 %

Shares of CVX traded up $2.83 during trading hours on Friday, hitting $153.13. 6,013,295 shares of the stock traded hands, compared to its average volume of 6,657,551. The business has a fifty day moving average of $153.68 and a 200-day moving average of $151.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $275.19 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. Analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.26%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Royal Bank of Canada upped 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. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.60.

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.