Pure Financial Advisors LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Pure Financial Advisors LLC lifted its position in Chevron Co. (NYSE:CVXFree Report) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,276 shares of the oil and gas company’s stock after purchasing an additional 1,741 shares during the quarter. Pure Financial Advisors LLC’s holdings in Chevron were worth $2,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Chevron by 0.6% during 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 buying an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. boosted its holdings in Chevron by 3.4% during the third 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. grew its position in Chevron by 3.0% during the second 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 buying an additional 501,969 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVX shares. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Piper Sandler reduced their price target 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 upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Get Our Latest Stock Analysis on Chevron

Chevron Trading Down 2.0 %

Shares of CVX stock opened at $158.16 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $284.23 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. The company has a 50-day moving average of $154.03 and a two-hundred day moving average of $151.04. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the business posted $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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