Tanglewood Legacy Advisors LLC Purchases 769 Shares of Chevron Co. (NYSE:CVX)

Tanglewood Legacy Advisors LLC boosted its position in Chevron Co. (NYSE:CVX) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,969 shares of the oil and gas company’s stock after acquiring an additional 769 shares during the quarter. Tanglewood Legacy Advisors LLC’s holdings in Chevron were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Marietta Wealth Management LLC boosted its position in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC raised its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. RPG Investment Advisory LLC grew its position in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

Shares of Chevron stock opened at $155.32 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a 50-day simple moving average of $151.86 and a 200 day simple moving average of $150.86. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the business posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s payout ratio is presently 67.08%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Wells Fargo & Company reduced their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.