Chevron Co. (NYSE:CVX) Position Increased by Graypoint LLC

Graypoint LLC boosted its stake in Chevron Co. (NYSE:CVX) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,674 shares of the oil and gas company’s stock after buying an additional 1,266 shares during the period. Graypoint LLC’s holdings in Chevron were worth $3,719,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the period. Franklin Resources Inc. grew its holdings in 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 buying an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 2.0 %

NYSE:CVX traded up $2.99 on Friday, hitting $153.29. 11,072,701 shares of the company’s stock traded hands, compared to its average volume of 7,539,276. The company has a market cap of $275.48 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 firm has a 50-day moving average price of $153.68 and a 200-day moving average price of $151.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 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 analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 EPS. Equities analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. Chevron’s dividend payout ratio is 71.65%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.60.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.