CFC Planning Co LLC Takes Position in Chevron Co. (NYSE:CVX)

CFC Planning Co LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,042 shares of the oil and gas company’s stock, valued at approximately $1,454,000.

Other institutional investors have also recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. Piper Sandler dropped 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. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 0.7 %

Shares of NYSE CVX opened at $156.00 on Friday. The firm has a market cap of $280.35 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business’s 50 day moving average is $151.92 and its two-hundred day moving average is $150.84.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 earnings per share. Research analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.38%. Chevron’s payout ratio is presently 67.08%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were 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 in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate 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.