Parkworth Wealth Management Inc. Purchases New Holdings in Chevron Co. (NYSE:CVX)

Parkworth Wealth Management Inc. purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,807 shares of the oil and gas company’s stock, valued at approximately $262,000.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $30,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 2.3 %

Shares of NYSE:CVX opened at $153.94 on Wednesday. The firm has a market cap of $271.02 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a fifty day simple moving average of $154.55 and a 200 day simple moving average of $151.91.

Chevron (NYSE:CVX) last issued its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.44%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.