First City Capital Management Inc. Purchases 485 Shares of Chevron Co. (NYSE:CVX)

First City Capital Management Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 2.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,034 shares of the oil and gas company’s stock after purchasing an additional 485 shares during the period. Chevron comprises approximately 1.5% of First City Capital Management Inc.’s holdings, making the stock its 15th biggest position. First City Capital Management Inc.’s holdings in Chevron were worth $2,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Lantz Financial LLC increased its holdings in Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after acquiring an additional 623 shares in the last quarter. Cozad Asset Management Inc. boosted its position in shares of Chevron by 18.6% in the second quarter. Cozad Asset Management Inc. now owns 6,427 shares of the oil and gas company’s stock worth $1,005,000 after purchasing an additional 1,010 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Chevron by 10.2% in the second quarter. Hodges Capital Management Inc. now owns 13,176 shares of the oil and gas company’s stock worth $2,061,000 after purchasing an additional 1,220 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Chevron by 56.3% during the 2nd quarter. Larson Financial Group LLC now owns 8,471 shares of the oil and gas company’s stock valued at $1,325,000 after purchasing an additional 3,053 shares during the period. Finally, Stablepoint Partners LLC lifted its stake in shares of Chevron by 5.3% during the 2nd quarter. Stablepoint Partners LLC now owns 37,919 shares of the oil and gas company’s stock valued at $5,938,000 after buying an additional 1,916 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This 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 available through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Trading Up 1.2 %

Shares of Chevron stock traded up $1.72 during trading on Friday, hitting $148.43. The stock had a trading volume of 3,102,465 shares, compared to its average volume of 5,083,043. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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’s fifty day simple moving average is $153.73 and its 200-day simple moving average is $151.27. The stock has a market cap of $266.74 billion, a PE ratio of 16.31, a PEG ratio of 2.93 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Truist Financial increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.19.

Chevron 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.