Howard Capital Management Inc. Acquires 598 Shares of Chevron Co. (NYSE:CVX)

Howard Capital Management Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,075 shares of the oil and gas company’s stock after buying an additional 598 shares during the quarter. Howard Capital Management Inc.’s holdings in Chevron were worth $2,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $39,000. 72.42% of the stock is owned by institutional investors.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.92 on Friday. The company’s 50 day moving average price is $151.97 and its two-hundred day moving average price is $151.05. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $282.00 billion, a PE ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. 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 announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Piper Sandler dropped 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. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. DZ Bank upgraded shares of 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. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.