Simplicity Wealth LLC Takes $245,000 Position in Chevron Co. (NYSE:CVX)

Simplicity Wealth LLC bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel reports. The firm bought 1,640 shares of the oil and gas company’s stock, valued at approximately $245,000.

A number of other institutional investors have also modified their holdings of the stock. Cantor Fitzgerald Investment Advisor L.P raised its stake in Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares during the period. Axiom Financial Strategies LLC raised its stake in Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares during the period. GQG Partners LLC raised its stake in Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares during the period. Lumature Wealth Partners LLC raised its stake in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP raised its stake in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Chevron Trading Down 1.8 %

Chevron stock opened at $158.96 on Monday. The firm has a 50 day simple moving average of $154.92 and a 200-day simple moving average of $152.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market capitalization of $295.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during 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 for the quarter was down 16.5% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.10%. Chevron’s payout ratio is 57.39%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $183.60.

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.