Chevron Co. (NYSE:CVX) Shares Acquired by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 41.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,793 shares of the oil and gas company’s stock after acquiring an additional 5,760 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Chevron were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Montz Harcus Wealth Management LLC increased its holdings in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Tacita Capital Inc boosted its position in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the period. Finally, S.A. Mason LLC raised its stake in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Chevron Stock Performance

Shares of CVX stock opened at $162.65 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50 day moving average price is $151.58 and its 200-day moving average price is $152.55. The firm has a market cap of $292.30 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $3.05 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. Chevron’s dividend payout ratio is presently 71.65%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Barclays upped their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.