KCM Investment Advisors LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

KCM Investment Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 334,209 shares of the oil and gas company’s stock after acquiring an additional 378 shares during the quarter. Chevron makes up 1.7% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 15th largest position. KCM Investment Advisors LLC’s holdings in Chevron were worth $48,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays reduced their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Shares of CVX opened at $143.10 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The company has a market capitalization of $251.95 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The firm has a 50 day moving average of $157.38 and a 200 day moving average of $154.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly 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 previous year, the firm posted $3.45 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal 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 issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.