FAS Wealth Partners Inc. Has $4.86 Million Stake in Chevron Co. (NYSE:CVX)

FAS Wealth Partners Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 9.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,610 shares of the oil and gas company’s stock after buying an additional 2,717 shares during the period. FAS Wealth Partners Inc.’s holdings in Chevron were worth $4,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Welch Group LLC grew its position in shares of Chevron by 2.5% in the fourth quarter. Welch Group LLC now owns 354,856 shares of the oil and gas company’s stock valued at $52,930,000 after purchasing an additional 8,643 shares during the last quarter. Private Ocean LLC grew its position in shares of Chevron by 7.0% in the fourth quarter. Private Ocean LLC now owns 2,876 shares of the oil and gas company’s stock valued at $429,000 after purchasing an additional 188 shares during the last quarter. Bell Bank grew its position in shares of Chevron by 4.8% in the fourth quarter. Bell Bank now owns 5,239 shares of the oil and gas company’s stock valued at $781,000 after purchasing an additional 239 shares during the last quarter. Hofer & Associates. Inc lifted its stake in shares of Chevron by 15.3% in the fourth quarter. Hofer & Associates. Inc now owns 1,470 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 195 shares during the period. Finally, Builder Investment Group Inc. ADV lifted its stake in shares of Chevron by 1.3% in the fourth quarter. Builder Investment Group Inc. ADV now owns 23,912 shares of the oil and gas company’s stock valued at $3,567,000 after buying an additional 312 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research note on Tuesday, January 16th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $180.39.

View Our Latest Stock Report on Chevron

Chevron Trading Up 0.5 %

CVX opened at $159.82 on Wednesday. The stock has a market capitalization of $296.83 billion, a P/E ratio of 14.07, a P/E/G ratio of 2.42 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The firm’s fifty day simple moving average is $152.56 and its 200 day simple moving average is $152.41. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 EPS. As a group, research analysts anticipate that Chevron Co. will post 13.13 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.08%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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