Tempus Wealth Planning LLC Makes New $410,000 Investment in Chevron Co. (NYSE:CVX)

Tempus Wealth Planning LLC bought a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,404 shares of the oil and gas company’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sailer Financial LLC acquired a new stake in Chevron in the fourth quarter worth $25,000. Filbrandt Wealth Management LLC bought a new position in shares of Chevron in the fourth quarter worth $25,000. Roffman Miller Associates Inc. PA bought a new position in shares of Chevron in the fourth quarter worth $27,000. CBIZ Investment Advisory Services LLC bought a new position in shares of Chevron in the fourth quarter worth $33,000. Finally, Price Wealth LLC boosted its stake in Chevron by 105.8% during the fourth quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 146 shares in the last quarter. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CVX remained flat at $$71.95 during midday trading on Tuesday. The stock had a trading volume of 10,279,169 shares, compared to its average volume of 21,947,360. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $127.34. The business has a 50-day simple moving average of $90.55 and a 200 day simple moving average of $110.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market cap of $129.26 billion, a P/E ratio of 47.65, a price-to-earnings-growth ratio of 23.66 and a beta of 1.04.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.02. Chevron had a return on equity of 8.29% and a net margin of 2.00%. The company had revenue of $36.35 billion during the quarter, compared to the consensus estimate of $38.98 billion. During the same period last year, the business earned $1.95 EPS. The business’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 0.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 18th were paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 7.17%. This is an increase from Chevron’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 82.30%.

In related news, Director John Frank acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $96.59 per share, with a total value of $96,590.00. Following the purchase, the director now owns 5,114 shares of the company’s stock, valued at $493,961.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $121.07, for a total value of $8,172,225.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at $4,086,112.50. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

CVX has been the subject of several research reports. Royal Bank of Canada reaffirmed a “hold” rating on shares of Chevron in a research note on Wednesday, March 18th. JPMorgan Chase & Co. decreased their target price on Chevron from $127.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Cowen decreased their target price on Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Credit Suisse Group decreased their target price on Chevron from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, ValuEngine raised Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, March 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Chevron has an average rating of “Buy” and an average price target of $120.21.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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