Chevron Co. (NYSE:CVX) Stake Lifted by Planned Solutions Inc.

Planned Solutions Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,303 shares of the oil and gas company’s stock after acquiring an additional 107 shares during the quarter. Planned Solutions Inc.’s holdings in Chevron were worth $478,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC acquired a new stake in Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter valued at about $31,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the 3rd quarter worth about $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Raymond James boosted their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Price Performance

NYSE CVX opened at $156.39 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $281.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a 50 day moving average price of $154.09 and a two-hundred day moving average price of $151.07.

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 analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.18 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. Investors 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 yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 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 stock was 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 directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.