Austin Private Wealth LLC Grows Position in Chevron Co. (NYSE:CVX)

Austin Private Wealth LLC boosted its stake in Chevron Co. (NYSE:CVX) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,244 shares of the oil and gas company’s stock after acquiring an additional 781 shares during the period. Austin Private Wealth LLC’s holdings in Chevron were worth $904,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $39,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’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 value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.21 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50-day simple moving average of $153.46 and a two-hundred day simple moving average of $151.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $268.14 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same quarter in the prior year, the company posted $3.45 EPS. On average, analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CVX shares. Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Raymond James boosted their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.