Parisi Gray Wealth Management Acquires 130 Shares of Chevron Co. (NYSE:CVX)

Parisi Gray Wealth Management boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,435 shares of the oil and gas company’s stock after purchasing an additional 130 shares during the quarter. Parisi Gray Wealth Management’s holdings in Chevron were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC lifted its position in shares of Chevron by 4.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 18,792 shares of the oil and gas company’s stock worth $2,722,000 after buying an additional 859 shares during the period. Miracle Mile Advisors LLC raised its stake in Chevron by 161.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 69,946 shares of the oil and gas company’s stock worth $10,131,000 after acquiring an additional 43,243 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of Chevron by 13.2% during the fourth quarter. Sunflower Bank N.A. now owns 3,356 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 391 shares during the period. Burns J W & Co. Inc. NY boosted its stake in shares of Chevron by 3.7% in the 4th quarter. Burns J W & Co. Inc. NY now owns 77,215 shares of the oil and gas company’s stock valued at $11,184,000 after purchasing an additional 2,724 shares in the last quarter. Finally, Davis Investment Partners LLC bought a new stake in shares of Chevron in the 4th quarter worth about $345,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVX shares. Wells Fargo & Company boosted their price target 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. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $155.07 on Tuesday. 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 stock has a market cap of $278.67 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The stock’s 50-day moving average price is $153.71 and its two-hundred day moving average price is $150.94. 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 data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.05 earnings per share. On average, equities analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

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.