LexAurum Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,077 shares of the oil and gas company’s stock after buying an additional 2,126 shares during the period. LexAurum Advisors LLC’s holdings in Chevron were worth $1,604,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CVX. RFG Advisory LLC lifted its holdings in Chevron by 18.2% during the fourth quarter. RFG Advisory LLC now owns 47,712 shares of the oil and gas company’s stock valued at $6,911,000 after purchasing an additional 7,339 shares in the last quarter. Neumann Capital Management LLC raised its position in shares of Chevron by 0.9% during the 4th quarter. Neumann Capital Management LLC now owns 11,695 shares of the oil and gas company’s stock valued at $1,694,000 after purchasing an additional 100 shares during the period. MFA Wealth Services purchased a new position in shares of Chevron during the 4th quarter valued at $291,000. Hengehold Capital Management LLC boosted its holdings in Chevron by 3.1% in the 4th quarter. Hengehold Capital Management LLC now owns 30,931 shares of the oil and gas company’s stock worth $4,480,000 after buying an additional 916 shares during the period. Finally, Seneca House Advisors increased its stake in Chevron by 9.7% in the 4th quarter. Seneca House Advisors now owns 5,210 shares of the oil and gas company’s stock worth $755,000 after buying an additional 459 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
CVX has been the topic of several research analyst reports. UBS Group boosted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial increased their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.
Chevron Trading Down 0.3 %
Shares of NYSE CVX opened at $155.62 on Friday. The stock has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business’s 50 day moving average is $153.81 and its two-hundred day moving average is $151.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate 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%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.05 EPS. As a group, research analysts expect that Chevron Co. will post 10.18 EPS for the current year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s payout ratio is 71.65%.
Insider Buying and Selling
In other news, CEO Michael K. Wirth sold 164,600 shares of the company’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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.
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.
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