Agate Pass Investment Management LLC Buys 3,862 Shares of Chevron Co. (NYSE:CVX)

Agate Pass Investment Management LLC boosted its position in Chevron Co. (NYSE:CVX) by 99.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,761 shares of the oil and gas company’s stock after acquiring an additional 3,862 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Chevron were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CVX. Asset Allocation & Management Company LLC bought a new position in shares of Chevron during the 4th quarter valued at about $420,000. Kieckhefer Group LLC bought a new position in Chevron during the fourth quarter valued at approximately $58,000. Capital Investment Advisors LLC raised its stake in shares of Chevron by 0.5% during the fourth quarter. Capital Investment Advisors LLC now owns 299,693 shares of the oil and gas company’s stock worth $43,408,000 after acquiring an additional 1,446 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Chevron by 2.1% in the 4th quarter. Brookstone Capital Management now owns 103,182 shares of the oil and gas company’s stock worth $14,945,000 after acquiring an additional 2,073 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its stake in shares of Chevron by 9.6% in the 4th quarter. Winthrop Advisory Group LLC now owns 4,722 shares of the oil and gas company’s stock valued at $684,000 after purchasing an additional 415 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.7 %

CVX traded up $1.14 on Monday, hitting $154.28. The company had a trading volume of 4,867,684 shares, compared to its average volume of 7,132,468. The stock has a fifty day simple moving average of $153.69 and a 200-day simple moving average of $150.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $277.26 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. As a group, equities analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

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.