Michael A. Dubis Financial Planning LLC Purchases Shares of 1,426 Chevron Co. (NYSE:CVX)

Michael A. Dubis Financial Planning LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,426 shares of the oil and gas company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. United Bank increased its position in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Chevron by 7.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 163 shares during the period. Peterson Wealth Management increased its holdings in shares of Chevron by 1.8% during the 3rd quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock worth $1,232,000 after buying an additional 149 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Chevron by 2.8% in the 3rd quarter. Martingale Asset Management L P now owns 183,259 shares of the oil and gas company’s stock worth $26,989,000 after buying an additional 4,924 shares during the period. Finally, Providence Wealth Advisors LLC grew its position in Chevron by 1.1% during the third quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock valued at $2,114,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of CVX stock opened at $166.06 on Friday. The firm has a market cap of $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. The firm has a fifty day moving average of $157.10 and a two-hundred day moving average of $153.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 business earned $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.