Chevron Co. (NYSE:CVX) Shares Acquired by Northcape Wealth Management LLC

Northcape Wealth Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 30.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,031 shares of the oil and gas company’s stock after acquiring an additional 709 shares during the quarter. Northcape Wealth Management LLC’s holdings in Chevron were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Atlas Legacy Advisors LLC purchased a new position in Chevron in the fourth quarter valued at $571,000. Bank of Jackson Hole Trust purchased a new position in shares of Chevron in the 4th quarter valued at about $1,549,000. Prossimo Advisors LLC increased its stake in shares of Chevron by 1.3% in the 4th quarter. Prossimo Advisors LLC now owns 5,556 shares of the oil and gas company’s stock valued at $805,000 after purchasing an additional 73 shares in the last quarter. Callahan Advisors LLC boosted its position in Chevron by 1.9% during the fourth quarter. Callahan Advisors LLC now owns 109,706 shares of the oil and gas company’s stock worth $15,890,000 after purchasing an additional 2,078 shares in the last quarter. Finally, Schubert & Co grew its holdings in Chevron by 3.7% in the fourth quarter. Schubert & Co now owns 2,800 shares of the oil and gas company’s stock valued at $406,000 after purchasing an additional 100 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $156.23 on Wednesday. The business’s 50 day moving average price is $151.80 and its 200 day moving average price is $150.81. The company has a market cap of $280.76 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. Chevron’s dividend payout ratio is 70.37%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVX shares. Piper Sandler reduced 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.