7,640 Shares in Chevron Co. (NYSE:CVX) Bought by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. purchased a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 7,640 shares of the oil and gas company’s stock, valued at approximately $1,107,000. Chevron comprises about 1.1% of Wingate Wealth Advisors Inc.’s portfolio, making the stock its 27th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Comprehensive Financial Planning Inc. PA bought a new stake in Chevron in the 4th quarter worth approximately $178,000. Ferguson Wellman Capital Management Inc. increased its position in Chevron by 23.3% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 626,969 shares of the oil and gas company’s stock worth $90,810,000 after purchasing an additional 118,652 shares during the last quarter. Savant Capital LLC raised its stake in Chevron by 1.2% during the fourth quarter. Savant Capital LLC now owns 95,245 shares of the oil and gas company’s stock valued at $13,795,000 after purchasing an additional 1,161 shares in the last quarter. Angeles Wealth Management LLC lifted its position in Chevron by 23.2% during the fourth quarter. Angeles Wealth Management LLC now owns 9,821 shares of the oil and gas company’s stock valued at $1,422,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Activest Wealth Management grew its stake in shares of Chevron by 3.0% in the 4th quarter. Activest Wealth Management now owns 2,551 shares of the oil and gas company’s stock worth $369,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

Chevron stock opened at $152.54 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market capitalization of $274.13 billion, a PE ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a 50 day moving average price of $152.21 and a 200-day moving average price of $150.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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 analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.48%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Insider Buying and Selling at Chevron

In other 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 sale, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.