Rench Wealth Management Inc. Has $4.53 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Rench Wealth Management Inc. raised its position in Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,265 shares of the oil and gas company’s stock after acquiring an additional 481 shares during the period. Chevron comprises approximately 1.5% of Rench Wealth Management Inc.’s holdings, making the stock its 28th largest holding. Rench Wealth Management Inc.’s holdings in Chevron were worth $4,528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CVX. TFB Advisors LLC boosted its stake in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its position in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the period. Meridian Financial Partners LLC raised its position in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after purchasing an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its stake in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $172.20.

Chevron Stock Down 0.4 %

NYSE:CVX opened at $135.14 on Tuesday. The stock’s fifty day moving average price is $154.99 and its two-hundred day moving average price is $153.82. The company has a market cap of $237.93 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 5.06%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron 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.