Cheviot Value Management LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Cheviot Value Management LLC raised its position in Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,786 shares of the oil and gas company’s stock after purchasing an additional 819 shares during the quarter. Chevron accounts for approximately 2.2% of Cheviot Value Management LLC’s portfolio, making the stock its 16th largest holding. Cheviot Value Management LLC’s holdings in Chevron were worth $11,267,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. TFB Advisors LLC increased its position in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. increased its holdings in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after purchasing an additional 66 shares during the period. Meridian Financial Partners LLC lifted its stake in shares of Chevron by 0.5% during the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after purchasing an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its position in shares of Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of analyst reports. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.71.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 1.7 %

Shares of CVX stock opened at $139.02 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $244.76 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The business’s fifty day moving average is $152.05 and its 200-day moving average is $153.02. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business earned $3.45 EPS. Equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Chevron Profile

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.