Concord Wealth Partners Acquires 5,319 Shares of Chevron Co. (NYSE:CVX)

Concord Wealth Partners lifted its position in Chevron Co. (NYSE:CVX) by 37.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,524 shares of the oil and gas company’s stock after buying an additional 5,319 shares during the period. Concord Wealth Partners’ holdings in Chevron were worth $2,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at about $33,000. Legacy Financial Group LLC purchased a new position in shares of Chevron in the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc lifted its position in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.6 %

Chevron stock traded down $0.97 during mid-day trading on Wednesday, reaching $160.30. 4,279,707 shares of the company were exchanged, compared to its average volume of 8,399,915. The business has a fifty day moving average of $156.96 and a 200 day moving average of $151.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $297.72 billion, a P/E ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.55 earnings per share. Research analysts anticipate that Chevron Co. will post 13.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron 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.