Smith Anglin Financial LLC Purchases 401 Shares of Chevron Co. (NYSE:CVX)

Smith Anglin Financial LLC grew its position in Chevron Co. (NYSE:CVX) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,785 shares of the oil and gas company’s stock after acquiring an additional 401 shares during the quarter. Smith Anglin Financial LLC’s holdings in Chevron were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVX. Edgestream Partners L.P. acquired a new stake in Chevron in the 2nd quarter worth approximately $2,398,000. Financial & Tax Architects LLC lifted its stake in Chevron by 4.2% during the 2nd quarter. Financial & Tax Architects LLC now owns 37,738 shares of the oil and gas company’s stock valued at $5,903,000 after acquiring an additional 1,524 shares during the period. Wealth Alliance lifted its stake in Chevron by 24.3% during the 2nd quarter. Wealth Alliance now owns 21,809 shares of the oil and gas company’s stock valued at $3,411,000 after acquiring an additional 4,259 shares during the period. E Fund Management Co. Ltd. lifted its stake in Chevron by 10.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,858 shares of the oil and gas company’s stock valued at $1,698,000 after acquiring an additional 1,068 shares during the period. Finally, Meridian Wealth Partners LLC lifted its stake in Chevron by 8.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,450 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 197 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CVX has been the subject of several research reports. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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 note on Monday, November 4th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.87.

Chevron Stock Performance

Chevron stock opened at $158.25 on Thursday. The stock has a market cap of $284.39 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $153.78 and a 200-day moving average of $150.95. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly 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. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. On average, analysts expect that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.