Chevron Co. (NYSE:CVX) Shares Acquired by CX Institutional

CX Institutional lifted its stake in Chevron Co. (NYSE:CVX) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,357 shares of the oil and gas company’s stock after buying an additional 11,176 shares during the period. CX Institutional’s holdings in Chevron were worth $8,308,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Deerfield Management Company L.P. Series C acquired a new stake in shares of Chevron during the second quarter valued at about $244,000. Scientech Research LLC raised its position in shares of Chevron by 132.3% in the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 2,849 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Chevron by 26.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 5,454 shares of the oil and gas company’s stock worth $853,000 after buying an additional 1,154 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in shares of Chevron by 12.2% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 9,396 shares of the oil and gas company’s stock worth $1,470,000 after buying an additional 1,022 shares in the last quarter. Finally, Core Wealth Advisors Inc. grew its position in shares of Chevron by 7.5% during the second quarter. Core Wealth Advisors Inc. now owns 1,279 shares of the oil and gas company’s stock worth $200,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $155.62 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50-day simple moving average is $153.81 and its 200 day simple moving average is $151.15. 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 cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 dividend yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective 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, Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.