Chevron Co. (NYSE:CVX) Shares Bought by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. grew its position in Chevron Co. (NYSE:CVX) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,859 shares of the oil and gas company’s stock after buying an additional 170 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Chevron were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marietta Wealth Management LLC increased its stake in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC increased its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC boosted its position in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares during the period. Finally, State Street Corp grew its stake in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.39 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $281.05 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. The stock has a 50 day moving average of $154.09 and a two-hundred day moving average of $151.07. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.