Terril Brothers Inc. Buys New Shares in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 16th, 2023

Terril Brothers Inc. acquired a new stake in shares of Chevron Co. (NYSE:CVX – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,168 shares of the oil and gas company’s stock, valued at approximately $210,000.

Several other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after purchasing an additional 189,762 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock valued at $1,731,739,000 after purchasing an additional 847,841 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Chevron by 1.6% during the third quarter. Nuveen Asset Management LLC now owns 9,953,548 shares of the oil and gas company’s stock valued at $1,430,026,000 after purchasing an additional 155,955 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Chevron by 4.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 7,762,782 shares of the oil and gas company’s stock worth $1,115,281,000 after acquiring an additional 309,277 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Chevron by 0.8% during the third quarter. Fisher Asset Management LLC now owns 6,792,458 shares of the oil and gas company’s stock worth $975,872,000 after acquiring an additional 52,663 shares in the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Chevron in a research report on Thursday, March 16th. They set a “hold” rating for the company. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $195.00 to $200.00 in a research report on Thursday. Morgan Stanley decreased their target price on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, March 27th. Cowen decreased their target price 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, Mizuho reissued a “neutral” rating and set a $206.00 target price on shares of Chevron in a research report on Tuesday, April 11th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $191.11.

Chevron Stock Up 0.2 %

Chevron stock opened at $172.44 on Friday. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The firm has a 50 day moving average price of $163.82 and a 200-day moving average price of $170.63. The company has a market capitalization of $326.71 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.83 and a beta of 1.16. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Rating) last released its earnings results 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). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 14.48 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a dividend of $1.51 per share. This is a boost from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio is presently 33.04%.

Chevron announced that its Board of Directors has approved a share buyback plan on Wednesday, January 25th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Chevron

In related news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 3,967 shares in the company, valued at approximately $674,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

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.