Hollow Brook Wealth Management LLC Purchases 556 Shares of Chevron Co. (NYSE:CVX)

Hollow Brook Wealth Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,521 shares of the oil and gas company’s stock after acquiring an additional 556 shares during the period. Chevron accounts for 2.4% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $6,044,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley increased its stake in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after acquiring an additional 368,898 shares during the last quarter. Northern Trust Corp increased its stake in shares of Chevron by 2.6% in the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after acquiring an additional 62,254 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial dropped their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Stock Performance

Shares of NYSE:CVX traded down $5.06 during midday trading on Tuesday, hitting $161.27. The company’s stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. The stock has a market capitalization of $299.52 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.44 and a beta of 1.12. The stock’s 50 day simple moving average is $156.96 and its 200 day simple moving average is $151.68. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

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, beating the consensus estimate of $2.84 by $0.09. The company 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 firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $3.55 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.