Chevron Co. (NYSE:CVX) Shares Purchased by Kelly Financial Services LLC

Kelly Financial Services LLC raised its holdings in Chevron Co. (NYSE:CVX) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,959 shares of the oil and gas company’s stock after purchasing an additional 311 shares during the quarter. Kelly Financial Services LLC’s holdings in Chevron were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the period. Pacer Advisors Inc. increased its position in shares of Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after buying an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.4 %

Shares of CVX stock opened at $161.54 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s 50-day moving average price is $153.93 and its 200-day moving average price is $151.05. The stock has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.05 EPS. As a group, equities analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.