Chevron Co. (NYSE:CVX) Shares Bought by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,064 shares of the oil and gas company’s stock after purchasing an additional 2,607 shares during the period. Chevron comprises 1.5% of Stockman Wealth Management Inc.’s holdings, making the stock its 25th largest position. Stockman Wealth Management Inc.’s holdings in Chevron were worth $9,858,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Tacita Capital Inc grew its holdings in Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. boosted its stake in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC boosted its stake in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the 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 owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

CVX stock opened at $152.54 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $274.13 billion, a PE ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day moving average price is $152.21 and its 200 day moving average price is $150.88.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm earned $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.48%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.