Jones Financial Companies Lllp Buys 152,164 Shares of Chevron Co. (NYSE:CVX)

Jones Financial Companies Lllp increased its stake in shares of Chevron Co. (NYSE:CVX) by 37.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 554,349 shares of the oil and gas company’s stock after acquiring an additional 152,164 shares during the period. Jones Financial Companies Lllp’s holdings in Chevron were worth $80,292,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC lifted its position in Chevron by 3.4% during 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 buying an additional 3,933 shares in the last quarter. State Street Corp boosted its stake 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 buying an additional 874,962 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after acquiring an additional 171,089 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in shares of Chevron in the fourth quarter valued at about $594,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. UBS Group lowered their target price 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. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” 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 target price 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

Shares of NYSE:CVX opened at $158.59 on Friday. The firm has a market cap of $279.21 billion, a PE ratio of 16.32, 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. The company’s 50 day moving average price is $153.14 and its two-hundred day moving average price is $151.49. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results 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 period in the prior year, the firm earned $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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

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.