RMR Wealth Builders Boosts Stake in Chevron Co. (NYSE:CVX)

RMR Wealth Builders increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,095 shares of the oil and gas company’s stock after buying an additional 391 shares during the quarter. RMR Wealth Builders’ holdings in Chevron were worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Lynch & Associates IN raised its stake in shares of Chevron by 2.3% during the 4th quarter. Lynch & Associates IN now owns 53,678 shares of the oil and gas company’s stock valued at $7,775,000 after buying an additional 1,206 shares during the last quarter. Atlas Brown Inc. grew its stake in shares of Chevron by 1.5% during the 4th quarter. Atlas Brown Inc. now owns 23,870 shares of the oil and gas company’s stock worth $3,457,000 after purchasing an additional 343 shares during the period. HBW Advisory Services LLC increased its holdings in shares of Chevron by 2.0% during the 4th quarter. HBW Advisory Services LLC now owns 17,984 shares of the oil and gas company’s stock valued at $2,605,000 after purchasing an additional 359 shares in the last quarter. Sage Capital Advisors llc lifted its stake in shares of Chevron by 1.2% in the 4th quarter. Sage Capital Advisors llc now owns 41,502 shares of the oil and gas company’s stock valued at $6,011,000 after purchasing an additional 483 shares during the period. Finally, Highline Wealth Partners LLC boosted its holdings in Chevron by 15.0% during the fourth quarter. Highline Wealth Partners LLC now owns 643 shares of the oil and gas company’s stock worth $93,000 after buying an additional 84 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 2.0 %

CVX traded up $2.99 during mid-day trading on Friday, hitting $153.29. 11,072,701 shares of the stock were exchanged, compared to its average volume of 7,539,276. The company has a market cap of $275.48 billion, a PE ratio of 16.85, a PEG ratio of 2.93 and a beta of 1.12. 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’s fifty day moving average is $153.68 and its two-hundred day moving average is $151.08. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating 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 business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.60.

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.