Waterway Wealth Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Waterway Wealth Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 8.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,680 shares of the oil and gas company’s stock after purchasing an additional 603 shares during the quarter. Chevron accounts for 0.5% of Waterway Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Waterway Wealth Management LLC’s holdings in Chevron were worth $1,112,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the third quarter valued at approximately $31,000. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.9 %

Shares of NYSE CVX opened at $156.57 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock’s fifty day simple moving average is $152.83 and its two-hundred day simple moving average is $151.34. The stock has a market capitalization of $281.36 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 in the previous year, the firm earned $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.