Burleson & Company LLC increased its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,495 shares of the oil and gas company’s stock after purchasing an additional 716 shares during the period. Burleson & Company LLC’s holdings in Chevron were worth $2,422,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CVX. ICW Investment Advisors LLC raised its holdings in 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 in the last quarter. AJ Wealth Strategies LLC raised its stake in Chevron by 1.8% in 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 buying an additional 56 shares during the period. Childress Capital Advisors LLC raised its stake in Chevron by 0.8% in 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 buying an additional 57 shares during the period. Howard Capital Management Group LLC raised its stake in 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 valued at $322,000 after buying an additional 57 shares during the period. Finally, Klingman & Associates LLC raised its stake in Chevron by 1.6% in the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock valued at $537,000 after buying an additional 58 shares during the period. 69.37% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
CVX has been the topic of several research analyst reports. 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 research note on Thursday, March 2nd. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $191.00 in a research note on Friday, January 6th. Truist Financial upped their price objective on Chevron from $179.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Raymond James dropped their price objective on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Monday, January 30th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $195.00 to $200.00 in a research note 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.11.
Insider Buying and Selling at Chevron
Chevron Trading Up 0.2 %
Shares of NYSE:CVX opened at $172.44 on Friday. 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. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. 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 business’s 50 day simple moving average is $163.82 and its 200 day simple moving average is $170.63.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) 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 company’s quarterly 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. On average, research analysts anticipate that Chevron Co. will post 14.48 EPS for the current fiscal year.
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 issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is currently 33.04%.
Chevron announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Chevron 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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