Wescott Financial Advisory Group LLC Has $506,000 Holdings in Chevron Co. (NYSE:CVX)

by · The Markets Daily

Wescott Financial Advisory Group LLC grew its holdings in Chevron Co. (NYSE:CVX – Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,492 shares of the oil and gas company’s stock after purchasing an additional 224 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Chevron were worth $506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. United Bank boosted its stake in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Chevron during the third quarter valued at $2,370,000. Atom Investors LP purchased a new position in Chevron in the third quarter valued at about $360,000. Reynders McVeigh Capital Management LLC increased its position in Chevron by 12.6% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 1,712 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 192 shares during the last quarter. Finally, Rench Wealth Management Inc. raised its stake in shares of Chevron by 6.3% during the 3rd quarter. Rench Wealth Management Inc. now owns 30,784 shares of the oil and gas company’s stock worth $4,534,000 after purchasing an additional 1,838 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Get Our Latest Analysis on CVX

Chevron Stock Down 6.3 %

Shares of CVX opened at $155.98 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96. The firm has a market capitalization of $274.61 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a 50-day simple moving average of $157.63 and a 200-day simple moving average of $154.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company posted $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.39%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

About Chevron

(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.

See Also

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