Chevron Co. (NYSE:CVX) Stake Raised by Leelyn Smith LLC

Leelyn Smith LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,557 shares of the oil and gas company’s stock after purchasing an additional 328 shares during the period. Leelyn Smith LLC’s holdings in Chevron were worth $2,398,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter worth $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

CVX opened at $158.69 on Tuesday. The stock has a fifty day moving average price of $155.26 and a 200 day moving average price of $152.14. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $279.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 earned $3.45 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.31%. 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 currently 70.37%.

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.