Family Legacy Inc. Has $1.19 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Family Legacy Inc. raised its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,887 shares of the oil and gas company’s stock after purchasing an additional 84 shares during the quarter. Family Legacy Inc.’s holdings in Chevron were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC grew its stake in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $166.06 on Monday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96. The company has a 50-day simple moving average of $157.10 and a 200 day simple moving average of $153.60. 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 company has a market capitalization of $292.37 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released 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 quarter last year, the company earned $3.45 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.