Syntegra Private Wealth Group LLC Buys 909 Shares of Chevron Co. (NYSE:CVX)

Syntegra Private Wealth Group LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 63.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,335 shares of the oil and gas company’s stock after purchasing an additional 909 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Chevron were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Czech National Bank boosted its position in shares of Chevron by 6.1% during the third quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after buying an additional 19,878 shares during the last quarter. Kesler Norman & Wride LLC raised its position in Chevron by 19.5% in the 3rd quarter. Kesler Norman & Wride LLC now owns 1,964 shares of the oil and gas company’s stock worth $289,000 after buying an additional 320 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in Chevron by 7.4% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 1,537 shares of the oil and gas company’s stock valued at $226,000 after acquiring an additional 106 shares during the period. Reliant Investment Management LLC boosted its holdings in shares of Chevron by 5.0% during the 3rd quarter. Reliant Investment Management LLC now owns 1,648 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 79 shares during the last quarter. Finally, Leibman Financial Services Inc. grew its stake in shares of Chevron by 4.9% in the third quarter. Leibman Financial Services Inc. now owns 18,960 shares of the oil and gas company’s stock worth $2,792,000 after acquiring an additional 887 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX opened at $153.01 on Thursday. The company has a 50 day simple moving average of $152.79 and a two-hundred day simple moving average of $150.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $274.98 billion, a P/E ratio of 15.74, a PEG ratio of 1.29 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company posted $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

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 transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America began 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. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Company 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.