Sky Investment Group LLC Buys 221 Shares of Chevron Co. (NYSE:CVX)

Sky Investment Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 56,299 shares of the oil and gas company’s stock after purchasing an additional 221 shares during the quarter. Chevron accounts for approximately 1.5% of Sky Investment Group LLC’s holdings, making the stock its 24th biggest holding. Sky Investment Group LLC’s holdings in Chevron were worth $8,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVX. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth approximately $29,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter worth $31,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the third quarter worth $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $158.16 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. The stock has a 50 day simple moving average of $154.03 and a 200 day simple moving average of $151.04. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate 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 net margin of 8.44% and a return on equity of 13.15%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.05 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.21 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Truist Financial upped their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James upped their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.