InvesTrust Invests $5.95 Million in Chevron Co. (NYSE:CVX)

InvesTrust bought a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,282 shares of the oil and gas company’s stock, valued at approximately $5,948,000.

Other hedge funds have also bought and sold shares of the company. Lantz Financial LLC increased its stake in shares of Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Chevron by 4,325.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock worth $404,000 after buying an additional 252,212 shares during the period. Acadian Asset Management LLC increased its stake in Chevron by 594.0% in the 2nd quarter. Acadian Asset Management LLC now owns 141,091 shares of the oil and gas company’s stock worth $22,062,000 after buying an additional 120,760 shares in the last quarter. Lane & Associates LLC raised its holdings in Chevron by 14.2% during the second quarter. Lane & Associates LLC now owns 2,495 shares of the oil and gas company’s stock valued at $390,000 after acquiring an additional 310 shares during the period. Finally, LGT Fund Management Co Ltd. lifted its position in shares of Chevron by 318.9% in the second quarter. LGT Fund Management Co Ltd. now owns 26,245 shares of the oil and gas company’s stock valued at $4,105,000 after acquiring an additional 19,980 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler lowered their target price 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. Truist Financial upped their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, DZ Bank upgraded 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.19.

Chevron Trading Up 0.3 %

CVX traded up $0.50 on Wednesday, reaching $150.09. 3,871,375 shares of the company traded hands, compared to its average volume of 6,060,842. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $269.73 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The firm has a fifty day simple moving average of $153.63 and a two-hundred day simple moving average of $151.10. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.5 earnings per share for the current 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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.34%. Chevron’s dividend payout ratio is currently 71.65%.

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.