Chevron Co. (NYSE:CVX) Shares Acquired by Monte Financial Group LLC

Monte Financial Group LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,086 shares of the oil and gas company’s stock after purchasing an additional 124 shares during the period. Chevron accounts for about 2.5% of Monte Financial Group LLC’s portfolio, making the stock its 11th largest holding. Monte Financial Group LLC’s holdings in Chevron were worth $5,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Grimes & Company Inc. increased its stake in shares of Chevron by 4.2% in the 4th quarter. Grimes & Company Inc. now owns 62,104 shares of the oil and gas company’s stock worth $8,995,000 after acquiring an additional 2,511 shares during the last quarter. Lantz Financial LLC increased its stake in shares of Chevron by 5.5% in the 4th quarter. Lantz Financial LLC now owns 24,365 shares of the oil and gas company’s stock worth $3,529,000 after acquiring an additional 1,264 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Chevron by 7.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 39,362 shares of the oil and gas company’s stock worth $5,701,000 after acquiring an additional 2,697 shares during the last quarter. Atlas Private Wealth Advisors increased its stake in shares of Chevron by 1.9% in the 4th quarter. Atlas Private Wealth Advisors now owns 11,587 shares of the oil and gas company’s stock worth $1,678,000 after acquiring an additional 212 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Chevron by 5.9% in the 4th quarter. Gradient Investments LLC now owns 269,607 shares of the oil and gas company’s stock worth $39,050,000 after acquiring an additional 15,007 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVX shares. Royal Bank of Canada lifted their price target 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. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Price Performance

Chevron stock opened at $155.62 on Monday. The firm has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $153.81 and its two-hundred day moving average is $151.14.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping 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 company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

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 shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $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 available at this link. 0.20% of the stock is currently owned by company insiders.

Chevron Company 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.