Hilltop Partners LLC Acquires 2,001 Shares of Chevron Co. (NYSE:CVX)

Hilltop Partners LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,399 shares of the oil and gas company’s stock after purchasing an additional 2,001 shares during the quarter. Hilltop Partners LLC’s holdings in Chevron were worth $1,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Pettinga Financial Advisors LLC raised its stake in shares of Chevron by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares in the last quarter. Eagle Strategies LLC increased its holdings in Chevron by 7.8% during the 3rd quarter. Eagle Strategies LLC now owns 1,833 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 133 shares during the period. GSB Wealth Management LLC raised its position in Chevron by 8.2% during the 3rd quarter. GSB Wealth Management LLC now owns 20,115 shares of the oil and gas company’s stock valued at $2,962,000 after purchasing an additional 1,517 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Chevron in the 3rd quarter worth $82,000. Finally, Milestones Administradora de Recursos Ltda. grew its position in shares of Chevron by 71.0% during the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 47,610 shares of the oil and gas company’s stock worth $7,012,000 after buying an additional 19,760 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

CVX opened at $156.57 on Friday. The company has a market cap of $281.36 billion, a P/E ratio of 16.11, a price-to-earnings-growth 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. The firm’s 50-day moving average price is $152.83 and its 200-day moving average price is $151.34. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly 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 in the previous year, the firm posted $3.45 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. UBS Group dropped their price objective 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. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.