Strategic Advisors LLC Has $5.76 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 2nd, 2023

Strategic Advisors LLC increased its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,081 shares of the oil and gas company’s stock after buying an additional 3,780 shares during the quarter. Chevron accounts for 1.3% of Strategic Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Strategic Advisors LLC’s holdings in Chevron were worth $5,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Worth Asset Management LLC bought a new position in shares of Chevron in the first quarter valued at approximately $36,000. JDM Financial Group LLC acquired a new stake in Chevron during the 4th quarter worth $42,000. Global Wealth Strategies & Associates acquired a new position in shares of Chevron in the 4th quarter valued at $46,000. Orion Capital Management LLC lifted its position in Chevron by 32.9% in the 4th quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in Chevron by 127.3% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 210 shares in the last quarter. 69.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the sale, the vice president now directly owns 3,967 shares in the company, valued at approximately $674,390. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $190.00 to $191.00 in a research report on Friday, January 6th. StockNews.com initiated coverage on shares of Chevron in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley cut their price target on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, March 27th. Wells Fargo & Company cut their price target on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. Finally, Mizuho reiterated a “neutral” rating and issued a $206.00 price target on shares of Chevron in a research note on Friday, March 17th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.33.

Chevron Stock Performance

Shares of CVX opened at $163.16 on Friday. The firm has a market capitalization of $311.09 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.78 and a beta of 1.16. The stock has a 50 day moving average price of $165.22 and a two-hundred day moving average price of $169.47. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The firm had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.56 EPS. Equities analysts forecast that Chevron Co. will post 14.56 earnings per share for the current fiscal year.

Chevron declared that its board has approved a stock repurchase plan on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.70%. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s payout ratio is presently 33.04%.

Chevron Profile

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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.