Owen LaRue LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Owen LaRue LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,689 shares of the oil and gas company’s stock after acquiring an additional 452 shares during the quarter. Owen LaRue LLC’s holdings in Chevron were worth $824,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. New Wave Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $39,000. Finally, Prudent Man Investment Management Inc. acquired a new position in Chevron during the 4th quarter valued at about $45,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $165.71.

Chevron Price Performance

Shares of CVX opened at $140.09 on Tuesday. The firm has a market capitalization of $246.64 billion, a PE ratio of 14.41, a PEG ratio of 1.46 and a beta of 0.93. The company’s 50-day moving average is $151.35 and its 200-day moving average is $152.91. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last issued 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.