Client 1ST Advisory Group LLC Buys New Stake in Chevron Co. (NYSE:CVX)

Client 1ST Advisory Group LLC bought a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,547 shares of the oil and gas company’s stock, valued at approximately $659,000.

Several other large investors have also recently added to or reduced their stakes in the business. Cascade Investment Group Inc. increased its position in Chevron by 2.7% in the 4th quarter. Cascade Investment Group Inc. now owns 14,353 shares of the oil and gas company’s stock valued at $2,079,000 after acquiring an additional 371 shares during the period. Grove Bank & Trust increased its position in shares of Chevron by 10.1% during the 4th quarter. Grove Bank & Trust now owns 19,665 shares of the oil and gas company’s stock valued at $2,848,000 after purchasing an additional 1,806 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in shares of Chevron during the 4th quarter valued at $2,095,000. Delta Capital Management LLC acquired a new position in shares of Chevron during the 4th quarter valued at $253,000. Finally, Lbmc Investment Advisors LLC increased its position in shares of Chevron by 3.5% during the 4th quarter. Lbmc Investment Advisors LLC now owns 5,842 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 200 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on 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 in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $161.54 on Tuesday. The stock has a market cap of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business has a fifty day simple moving average of $153.93 and a 200-day simple moving average of $151.01. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. UBS Group lifted their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.