Eagle Rock Investment Company LLC Has $7.21 Million Holdings in Chevron Co. (NYSE:CVX)

Eagle Rock Investment Company LLC increased its holdings in Chevron Co. (NYSE:CVX) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,798 shares of the oil and gas company’s stock after buying an additional 2,714 shares during the period. Chevron makes up 1.2% of Eagle Rock Investment Company LLC’s holdings, making the stock its 22nd largest holding. Eagle Rock Investment Company LLC’s holdings in Chevron were worth $7,213,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter worth about $29,000. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Raymond James increased their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 1.4 %

Shares of NYSE:CVX opened at $161.54 on Friday. The business has a fifty day simple moving average of $153.84 and a 200 day simple moving average of $151.06. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for 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 firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.