Hollow Brook Wealth Management LLC Purchases 3,267 Shares of Chevron Co. (NYSE:CVX)

Hollow Brook Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,653 shares of the oil and gas company’s stock after purchasing an additional 3,267 shares during the period. Chevron comprises 2.1% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $7,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Fragasso Financial Advisors Inc lifted its holdings in Chevron by 10.2% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,554 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 144 shares in the last quarter. First Bank & Trust boosted its holdings in shares of Chevron by 9.0% in the 2nd quarter. First Bank & Trust now owns 16,962 shares of the oil and gas company’s stock valued at $2,653,000 after buying an additional 1,403 shares in the last quarter. Sage Capital Advisors llc grew its position in shares of Chevron by 4.5% in the 2nd quarter. Sage Capital Advisors llc now owns 40,548 shares of the oil and gas company’s stock worth $6,342,000 after buying an additional 1,749 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in Chevron by 20.0% during the second quarter. Kingswood Wealth Advisors LLC now owns 26,486 shares of the oil and gas company’s stock valued at $4,143,000 after acquiring an additional 4,407 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Chevron by 1.4% in the second quarter. Park Avenue Securities LLC now owns 82,638 shares of the oil and gas company’s stock valued at $12,926,000 after acquiring an additional 1,138 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $162.20 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $291.49 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day moving average of $153.36 and a two-hundred day moving average of $152.46.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.53 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated 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 of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.56.

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.