Wrapmanager Inc. Purchases 408 Shares of Chevron Co. (NYSE:CVX)

Wrapmanager Inc. raised its stake in shares of Chevron Co. (NYSE:CVX) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 8,913 shares of the oil and gas company’s stock after acquiring an additional 408 shares during the period. Wrapmanager Inc.’s holdings in Chevron were worth $1,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the period. Tacita Capital Inc increased its position in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its position in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the period. Finally, S.A. Mason LLC increased its position in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVX shares. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated 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 owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.6 %

NYSE CVX opened at $160.78 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 company has a market capitalization of $288.94 billion, a PE ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a fifty day moving average of $149.80 and a 200 day moving average of $152.57.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.