Paces Ferry Wealth Advisors LLC Has $357,000 Holdings in Chevron Co. (NYSE:CVX)

Paces Ferry Wealth Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,394 shares of the oil and gas company’s stock after purchasing an additional 179 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Chevron were worth $357,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Chevron in the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC bought a new position in Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc raised its stake in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CVX. 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 note on Tuesday, February 6th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, HSBC boosted 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 given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Price Performance

Chevron stock traded down $5.06 during mid-day trading on Tuesday, reaching $161.27. 8,382,708 shares of the company were exchanged, compared to its average volume of 8,454,227. The company has a fifty day simple moving average of $156.96 and a 200-day simple moving average of $151.68. The firm has a market cap of $299.52 billion, a PE ratio of 14.84, a PEG ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.55 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was 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 owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.