United Capital Management of KS Inc. Increases Stake in Chevron Co. (NYSE:CVX)

United Capital Management of KS Inc. raised its position in Chevron Co. (NYSE:CVX) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,501 shares of the oil and gas company’s stock after purchasing an additional 798 shares during the period. United Capital Management of KS Inc.’s holdings in Chevron were worth $5,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler cut 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. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Up 2.3 %

Shares of NYSE:CVX opened at $157.10 on Friday. 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 $276.59 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The firm’s 50-day moving average is $155.03 and its two-hundred day moving average is $151.98. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio is 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.