Shore Point Advisors LLC Buys 425 Shares of Chevron Co. (NYSE:CVX)

Shore Point Advisors LLC grew its stake in Chevron Co. (NYSE:CVX) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,970 shares of the oil and gas company’s stock after acquiring an additional 425 shares during the period. Shore Point Advisors LLC’s holdings in Chevron were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Corundum Group Inc. increased its position in Chevron by 113.0% in the fourth quarter. Corundum Group Inc. now owns 8,854 shares of the oil and gas company’s stock worth $1,282,000 after purchasing an additional 4,698 shares during the period. Baugh & Associates LLC boosted its stake in shares of Chevron by 6.2% in the 4th quarter. Baugh & Associates LLC now owns 35,141 shares of the oil and gas company’s stock valued at $4,902,000 after purchasing an additional 2,054 shares during the last quarter. True Link Financial Advisors LLC grew its position in shares of Chevron by 19.3% during the 4th quarter. True Link Financial Advisors LLC now owns 2,610 shares of the oil and gas company’s stock worth $378,000 after buying an additional 423 shares during the period. AHL Investment Management Inc. raised its stake in shares of Chevron by 0.7% during the fourth quarter. AHL Investment Management Inc. now owns 15,614 shares of the oil and gas company’s stock worth $2,262,000 after buying an additional 112 shares during the last quarter. Finally, Strong Tower Advisory Services lifted its holdings in Chevron by 5.6% in the fourth quarter. Strong Tower Advisory Services now owns 12,277 shares of the oil and gas company’s stock valued at $1,778,000 after buying an additional 649 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CVX shares. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial upped their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Performance

Shares of NYSE CVX opened at $161.54 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a 50 day moving average of $153.93 and a 200-day moving average of $151.01. 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 company has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.