MADDEN SECURITIES Corp Increases Holdings in Chevron Co. (NYSE:CVX)

MADDEN SECURITIES Corp increased its stake in shares of Chevron Co. (NYSE:CVX) by 5.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 34,711 shares of the oil and gas company’s stock after purchasing an additional 1,644 shares during the period. Chevron accounts for 2.0% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 13th largest position. MADDEN SECURITIES Corp’s holdings in Chevron were worth $5,028,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Sapient Capital LLC increased its position in shares of Chevron by 4.0% during the fourth quarter. Sapient Capital LLC now owns 312,152 shares of the oil and gas company’s stock valued at $45,212,000 after buying an additional 11,998 shares during the period. Paladin Wealth LLC increased its holdings in Chevron by 10.6% during the 4th quarter. Paladin Wealth LLC now owns 7,134 shares of the oil and gas company’s stock worth $1,033,000 after acquiring an additional 684 shares during the period. Pineridge Advisors LLC lifted its stake in Chevron by 286.7% in the 4th quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 929 shares in the last quarter. Principle Wealth Partners LLC boosted its holdings in Chevron by 0.5% in the 4th quarter. Principle Wealth Partners LLC now owns 39,102 shares of the oil and gas company’s stock valued at $5,664,000 after purchasing an additional 199 shares during the period. Finally, Arlington Trust Co LLC grew its position in shares of Chevron by 1.1% during the 4th quarter. Arlington Trust Co LLC now owns 9,602 shares of the oil and gas company’s stock valued at $1,391,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVX shares. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.76 on Tuesday. The company’s fifty day moving average is $152.21 and its 200 day moving average is $150.82. 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 stock has a market cap of $279.91 billion, a PE ratio of 16.02, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business posted $3.45 earnings per share. Research analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s dividend payout ratio is presently 67.08%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by 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.