Gradient Investments LLC Buys 15,007 Shares of Chevron Co. (NYSE:CVX)

Gradient Investments LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 269,607 shares of the oil and gas company’s stock after buying an additional 15,007 shares during the quarter. Gradient Investments LLC’s holdings in Chevron were worth $39,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CX Institutional raised its stake in Chevron by 24.2% during the fourth quarter. CX Institutional now owns 57,357 shares of the oil and gas company’s stock worth $8,308,000 after buying an additional 11,176 shares during the last quarter. Encompass More Asset Management raised its position in shares of Chevron by 5.9% in the 4th quarter. Encompass More Asset Management now owns 3,150 shares of the oil and gas company’s stock worth $456,000 after acquiring an additional 176 shares in the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of Chevron by 10.2% in the 4th quarter. Impact Partnership Wealth LLC now owns 7,716 shares of the oil and gas company’s stock valued at $1,118,000 after purchasing an additional 715 shares during the period. Patriot Investment Management Group Inc. boosted its position in shares of Chevron by 7.7% during the 4th quarter. Patriot Investment Management Group Inc. now owns 2,194 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 157 shares in the last quarter. Finally, Southland Equity Partners LLC grew its stake in Chevron by 13.6% during the fourth quarter. Southland Equity Partners LLC now owns 18,160 shares of the oil and gas company’s stock worth $2,630,000 after purchasing an additional 2,180 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial boosted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.62 on Friday. The stock’s fifty day simple moving average is $153.81 and its two-hundred day simple moving average is $151.15. The stock has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 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.