Traynor Capital Management Inc. Purchases 4,314 Shares of Chevron Co. (NYSE:CVX)

Traynor Capital Management Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 24.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,822 shares of the oil and gas company’s stock after acquiring an additional 4,314 shares during the period. Traynor Capital Management Inc.’s holdings in Chevron were worth $3,161,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVX. Independent Wealth Network Inc. grew its stake in Chevron by 6.1% in the fourth quarter. Independent Wealth Network Inc. now owns 30,039 shares of the oil and gas company’s stock worth $4,351,000 after purchasing an additional 1,723 shares during the period. Wesbanco Bank Inc. boosted its holdings in shares of Chevron by 3.8% during the 4th quarter. Wesbanco Bank Inc. now owns 237,260 shares of the oil and gas company’s stock valued at $34,365,000 after buying an additional 8,626 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Chevron by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,203,001 shares of the oil and gas company’s stock worth $174,243,000 after buying an additional 19,502 shares during the period. GoalVest Advisory LLC increased its stake in shares of Chevron by 2.3% in the 4th quarter. GoalVest Advisory LLC now owns 7,340 shares of the oil and gas company’s stock worth $1,063,000 after acquiring an additional 168 shares in the last quarter. Finally, Eagle Capital Management LLC lifted its position in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $155.99 on Friday. The firm has a market capitalization of $280.32 billion, a PE ratio of 17.14, a P/E/G ratio of 1.39 and a beta of 1.12. The company has a 50 day moving average price of $154.05 and a 200-day moving average price of $151.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.18%. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Raymond James increased their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

About Chevron

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.