ICW Investment Advisors LLC Has $2.17 Million Stock Position in Chevron Co. (NYSE:CVX)

ICW Investment Advisors LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 16.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,997 shares of the oil and gas company’s stock after buying an additional 2,159 shares during the period. ICW Investment Advisors LLC’s holdings in Chevron were worth $2,172,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Jackson Thornton Wealth Management LLC acquired a new stake in Chevron during the 4th quarter worth approximately $230,000. Woodmont Investment Counsel LLC raised its holdings in shares of Chevron by 2.1% in the fourth quarter. Woodmont Investment Counsel LLC now owns 115,563 shares of the oil and gas company’s stock valued at $16,738,000 after purchasing an additional 2,352 shares during the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Chevron by 0.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company’s stock valued at $19,314,000 after purchasing an additional 785 shares during the last quarter. Clune & Associates LTD. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $367,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,947,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

In related 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 value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.2 %

CVX stock opened at $164.37 on Monday. 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 company has a fifty day moving average price of $156.29 and a two-hundred day moving average price of $152.64. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period last year, the company posted $3.45 EPS. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.