Moss Adams Wealth Advisors LLC Has $796,000 Stock Position in Chevron Co. (NYSE:CVX)

Moss Adams Wealth Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 32.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,337 shares of the oil and gas company’s stock after purchasing an additional 1,312 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Chevron were worth $796,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Moody Lynn & Lieberson LLC increased its position in shares of Chevron by 20.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 93,201 shares of the oil and gas company’s stock worth $15,716,000 after acquiring an additional 16,053 shares in the last quarter. Talbot Financial LLC raised its stake in shares of Chevron by 2.5% in the 3rd quarter. Talbot Financial LLC now owns 92,438 shares of the oil and gas company’s stock valued at $15,587,000 after purchasing an additional 2,230 shares during the period. Forza Wealth Management LLC lifted its holdings in shares of Chevron by 7.8% in the third quarter. Forza Wealth Management LLC now owns 11,803 shares of the oil and gas company’s stock valued at $1,990,000 after purchasing an additional 850 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Chevron by 2.5% in the third quarter. Independent Advisor Alliance now owns 153,027 shares of the oil and gas company’s stock valued at $25,804,000 after purchasing an additional 3,687 shares in the last quarter. Finally, SkyOak Wealth LLC boosted its position in shares of Chevron by 6.1% during the third quarter. SkyOak Wealth LLC now owns 7,195 shares of the oil and gas company’s stock worth $1,213,000 after buying an additional 415 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Performance

CVX stock traded down $0.13 during trading hours on Wednesday, hitting $162.54. 6,704,983 shares of the stock were exchanged, compared to its average volume of 8,445,787. The company has a 50-day simple moving average of $157.62 and a two-hundred day simple moving average of $151.45. The firm has a market capitalization of $300.21 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,247 shares of company stock worth $2,154,164 in the last 90 days. Company insiders own 0.20% of the company’s stock.

About Chevron

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.