JGP Wealth Management LLC Purchases 123 Shares of Chevron Co. (NYSE:CVX)

JGP Wealth Management LLC increased its position in Chevron Co. (NYSE:CVX) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,947 shares of the oil and gas company’s stock after purchasing an additional 123 shares during the quarter. JGP Wealth Management LLC’s holdings in Chevron were worth $861,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVX shares. 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 report on Monday, November 4th. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the 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 of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

CVX stock opened at $159.33 on Friday. The company’s 50-day moving average price is $153.79 and its two-hundred day moving average price is $151.00. Chevron Co. has a 12 month low of $135.37 and a 12 month 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. The firm has a market cap of $286.32 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.09%. Chevron’s dividend payout ratio is currently 71.65%.

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.