Blackhawk Capital Partners LLC. Boosts Stake in Chevron Co. (NYSE:CVX)

Blackhawk Capital Partners LLC. raised its stake in Chevron Co. (NYSE:CVX) by 25.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,244 shares of the oil and gas company’s stock after purchasing an additional 2,908 shares during the period. Blackhawk Capital Partners LLC.’s holdings in Chevron were worth $2,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Chevron by 295.7% during the third quarter. Integrated Investment Consultants LLC now owns 23,543 shares of the oil and gas company’s stock worth $3,467,000 after purchasing an additional 17,593 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Chevron by 1.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 96,813 shares of the oil and gas company’s stock valued at $14,258,000 after buying an additional 1,532 shares during the period. LPL Financial LLC lifted its holdings in Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after acquiring an additional 171,089 shares during the last quarter. Finally, German American Bancorp Inc. grew its position in Chevron by 33.5% in the third quarter. German American Bancorp Inc. now owns 3,383 shares of the oil and gas company’s stock worth $498,000 after buying an additional 849 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $161.30 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a 50 day moving average of $150.70 and a 200-day moving average of $152.63. 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 firm has a market cap of $289.87 billion, a PE ratio of 17.73, a P/E/G ratio of 3.59 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron 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.