Chevron Co. (NYSE:CVX) Shares Acquired by Global Assets Advisory LLC

Posted by Defense World Staff on Apr 16th, 2023

Global Assets Advisory LLC boosted its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,685 shares of the oil and gas company’s stock after acquiring an additional 182 shares during the quarter. Global Assets Advisory LLC’s holdings in Chevron were worth $661,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. ICW Investment Advisors LLC boosted its stake in shares of Chevron by 0.5% during the 3rd 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 in the last quarter. AJ Wealth Strategies LLC boosted its stake in shares of Chevron by 1.8% during the 4th quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock worth $555,000 after acquiring an additional 56 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Chevron by 0.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock worth $1,051,000 after acquiring an additional 57 shares in the last quarter. Howard Capital Management Group LLC boosted its position in shares of Chevron by 3.3% in the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock worth $322,000 after buying an additional 57 shares during the period. Finally, Klingman & Associates LLC boosted its position in shares of Chevron by 1.6% in the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock worth $537,000 after buying an additional 58 shares during the period. 69.37% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

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

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.56 earnings per share. On average, analysts anticipate that Chevron Co. will post 14.48 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change 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%. Chevron’s payout ratio is presently 33.04%.

Chevron declared that its board has approved a share repurchase program 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 purchase up to 21.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and raised their target price for the stock from $190.00 to $191.00 in a research report on Friday, January 6th. Barclays raised their target price on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Raymond James decreased their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, January 30th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research report on Tuesday, April 4th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $195.00 to $200.00 in a report on Thursday. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $191.11.

Insider Transactions at Chevron

In other news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction dated 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 transaction, the vice president now directly owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.