Chevron Co. (NYSE:CVX) Shares Purchased by RiverFront Investment Group LLC

RiverFront Investment Group LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 34.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,823 shares of the oil and gas company’s stock after purchasing an additional 22,979 shares during the period. RiverFront Investment Group LLC’s holdings in Chevron were worth $12,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. United Bank increased its holdings in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Chevron by 7.2% in the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 163 shares in the last quarter. Peterson Wealth Management raised its position in shares of Chevron by 1.8% in the third quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock worth $1,232,000 after acquiring an additional 149 shares during the period. Martingale Asset Management L P grew its position in shares of Chevron by 2.8% during the 3rd quarter. Martingale Asset Management L P now owns 183,259 shares of the oil and gas company’s stock valued at $26,989,000 after acquiring an additional 4,924 shares during the period. Finally, Providence Wealth Advisors LLC increased its stake in shares of Chevron by 1.1% in the 3rd quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock valued at $2,114,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.4 %

CVX opened at $166.06 on Friday. The stock has a market capitalization of $292.37 billion, a PE ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business’s 50 day moving average price is $157.10 and its 200 day moving average price is $153.38.

Chevron (NYSE:CVX) last announced its quarterly 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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company cut 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.