Aspiriant LLC boosted its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,682 shares of the oil and gas company’s stock after acquiring an additional 529 shares during the quarter. Aspiriant LLC’s holdings in Chevron were worth $2,994,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVX. Good Life Advisors LLC grew its holdings in Chevron by 2.6% in the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock valued at $4,031,000 after purchasing an additional 719 shares during the period. M&R Capital Management Inc. grew its holdings in Chevron by 9.8% in the fourth quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the period. Sage Mountain Advisors LLC grew its holdings in Chevron by 77.1% in the second quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after purchasing an additional 2,632 shares during the period. CapWealth Advisors LLC grew its holdings in Chevron by 0.6% in the third quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after purchasing an additional 1,097 shares during the period. Finally, Joel Isaacson & Co. LLC grew its holdings in Chevron by 0.8% in the third quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after purchasing an additional 155 shares during the period. 69.37% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Chevron
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted $2.56 EPS. On average, research analysts anticipate that Chevron Co. will post 14.56 earnings per share for the current year.
Chevron announced that its board has approved a share buyback plan on Wednesday, January 25th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Chevron Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 3.70%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s payout ratio is 33.04%.
Analyst Upgrades and Downgrades
CVX has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Wells Fargo & Company dropped their price objective on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Mizuho reaffirmed a “neutral” rating and issued a $206.00 price target on shares of Chevron in a research note on Friday, March 17th. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $190.00 to $191.00 in a research note on Friday, January 6th. Finally, Barclays lifted their price target on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.33.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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