Shilanski & Associates Inc. Purchases 1,037 Shares of Chevron Co. (NYSE:CVX)

Posted by on Apr 16th, 2023

Shilanski & Associates Inc. lifted its position in Chevron Co. (NYSE:CVX – Get Rating) by 32.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,199 shares of the oil and gas company’s stock after buying an additional 1,037 shares during the period. Shilanski & Associates Inc.’s holdings in Chevron were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. ICW Investment Advisors LLC boosted its position in shares of Chevron by 0.5% during the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock worth $1,570,000 after acquiring an additional 55 shares during the last quarter. AJ Wealth Strategies LLC lifted its position in Chevron by 1.8% during the fourth quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock valued at $555,000 after purchasing an additional 56 shares during the last quarter. Childress Capital Advisors LLC lifted its position in Chevron by 0.8% during the third quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock valued at $1,051,000 after purchasing an additional 57 shares during the last quarter. Howard Capital Management Group LLC lifted its position in Chevron by 3.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 57 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in Chevron by 1.6% during the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock valued at $537,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 69.37% of the company’s stock.

Chevron Trading Up 0.2 %

NYSE CVX opened at $172.44 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. The company has a market capitalization of $326.71 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.83 and a beta of 1.16. The company’s 50-day simple moving average is $163.82 and its two-hundred day simple moving average is $170.63. Chevron Co. has a one year low of $132.54 and a one year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last posted 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 business had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. Equities analysts forecast that Chevron Co. will post 14.48 EPS for the current fiscal year.

Chevron declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Chevron Increases Dividend

The firm also recently announced 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 is an increase from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 3.50%. Chevron’s dividend payout ratio (DPR) is 33.04%.

Insider Buying and Selling at Chevron

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CVX shares. Barclays increased their price objective on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and increased their price objective for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Raymond James lowered their price objective on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, January 30th. Cowen lowered their price objective on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. Finally, Truist Financial raised their target price on shares of Chevron from $179.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.11.

Chevron Company 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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