Ballast Advisors LLC Has $952,000 Position in Chevron Co. (NYSE:CVX)

Ballast Advisors LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 9.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,381 shares of the oil and gas company’s stock after selling 632 shares during the period. Ballast Advisors LLC’s holdings in Chevron were worth $952,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CVX. Moneta Group Investment Advisors LLC grew its holdings in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Norges Bank bought a new position in shares of Chevron during the fourth quarter worth $3,058,235,000. Imprint Wealth LLC raised its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after buying an additional 5,343,782 shares during the period. Morgan Stanley raised its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Wells Fargo & Company increased their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Mizuho boosted their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Piper Sandler cut their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $183.55.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Chevron Trading Down 0.9 %

CVX opened at $157.59 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business has a 50 day simple moving average of $155.03 and a two-hundred day simple moving average of $151.92. The firm has a market capitalization of $292.69 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.40 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $172.54.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the business posted $4.09 EPS. Chevron’s revenue was down 16.5% compared to the same quarter last year. Analysts predict that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s payout ratio is currently 57.39%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.