LPL Financial LLC Has $483.49 Million Stake in Chevron Co. (NYSE:CVX)

LPL Financial LLC raised its position in Chevron Co. (NYSE:CVX) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,338,108 shares of the oil and gas company’s stock after purchasing an additional 190,422 shares during the quarter. LPL Financial LLC owned 0.19% of Chevron worth $483,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Richwood Investment Advisors LLC grew its holdings in shares of Chevron by 22.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,827 shares of the oil and gas company’s stock valued at $410,000 after acquiring an additional 525 shares in the last quarter. Blueprint Investment Partners LLC grew its holdings in shares of Chevron by 75.9% in the 4th quarter. Blueprint Investment Partners LLC now owns 4,779 shares of the oil and gas company’s stock valued at $692,000 after acquiring an additional 2,062 shares in the last quarter. Mosley Wealth Management grew its holdings in shares of Chevron by 9.2% in the 4th quarter. Mosley Wealth Management now owns 4,961 shares of the oil and gas company’s stock valued at $772,000 after acquiring an additional 418 shares in the last quarter. Guardian Partners Inc. bought a new position in shares of Chevron in the 4th quarter valued at about $10,349,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Chevron in the 4th quarter valued at about $75,635,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $164.37 on Friday. The firm’s fifty day moving average price is $156.29 and its two-hundred day moving average price is $152.57. The stock has a market cap of $289.39 billion, a PE ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 (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 quarter in the prior year, the firm posted $3.45 EPS. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Insiders Place Their Bets

In related 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.