Chevron Co. (NYSE:CVX) Stake Raised by Root Financial Partners LLC

Root Financial Partners LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 53.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,380 shares of the oil and gas company’s stock after purchasing an additional 2,216 shares during the period. Root Financial Partners LLC’s holdings in Chevron were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter valued at $25,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.7 %

Shares of NYSE:CVX opened at $156.00 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a fifty day moving average price of $151.92 and a 200 day moving average price of $150.84. The stock has a market capitalization of $280.35 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.11. 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 (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 analysts’ consensus estimates 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 period in the prior year, the company earned $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.