Smith Anglin Financial LLC Acquires 401 Shares of Chevron Co. (NYSE:CVX)

Smith Anglin Financial LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,785 shares of the oil and gas company’s stock after buying an additional 401 shares during the quarter. Smith Anglin Financial LLC’s holdings in Chevron were worth $983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Rational Advisors LLC bought a new position in Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $158.25 on Thursday. The firm has a fifty day moving average price of $153.78 and a 200-day moving average price of $150.95. 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 market cap of $284.39 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVX shares. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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.