Octavia Wealth Advisors LLC Acquires 2,661 Shares of Chevron Co. (NYSE:CVX)

Octavia Wealth Advisors LLC grew its stake in Chevron Co. (NYSE:CVX) by 47.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,299 shares of the oil and gas company’s stock after acquiring an additional 2,661 shares during the period. Octavia Wealth Advisors LLC’s holdings in Chevron were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Roberts Wealth Advisors LLC increased its position in Chevron by 20.4% during the 4th quarter. Roberts Wealth Advisors LLC now owns 6,279 shares of the oil and gas company’s stock valued at $994,000 after purchasing an additional 1,062 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in Chevron by 16.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 506,134 shares of the oil and gas company’s stock worth $73,308,000 after buying an additional 70,831 shares during the last quarter. Planned Solutions Inc. increased its holdings in shares of Chevron by 3.3% during the fourth quarter. Planned Solutions Inc. now owns 3,303 shares of the oil and gas company’s stock valued at $478,000 after acquiring an additional 107 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Chevron by 8.5% in the fourth quarter. Atomi Financial Group Inc. now owns 32,339 shares of the oil and gas company’s stock worth $4,684,000 after buying an additional 2,536 shares during the last quarter. Finally, Signature Resources Capital Management LLC lifted its position in Chevron by 22.9% during the 4th quarter. Signature Resources Capital Management LLC now owns 376 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 70 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Raymond James boosted their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 1.2 %

CVX stock opened at $156.39 on Thursday. The business has a fifty day simple moving average of $154.09 and a 200-day simple moving average of $151.07. The company has a market cap of $281.05 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.45 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. On average, equities research analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.