Agate Pass Investment Management LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Agate Pass Investment Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 99.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,761 shares of the oil and gas company’s stock after purchasing an additional 3,862 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Chevron were worth $1,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Asset Allocation & Management Company LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $420,000. Kieckhefer Group LLC bought a new position in Chevron in the 4th quarter valued at approximately $58,000. Capital Investment Advisors LLC boosted its stake in Chevron by 0.5% during the 4th quarter. Capital Investment Advisors LLC now owns 299,693 shares of the oil and gas company’s stock valued at $43,408,000 after purchasing an additional 1,446 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Chevron by 2.1% in the 4th quarter. Brookstone Capital Management now owns 103,182 shares of the oil and gas company’s stock worth $14,945,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Winthrop Advisory Group LLC raised its stake in shares of Chevron by 9.6% in the fourth quarter. Winthrop Advisory Group LLC now owns 4,722 shares of the oil and gas company’s stock worth $684,000 after purchasing an additional 415 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron 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 value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Truist Financial raised their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Price Performance

Shares of CVX traded up $1.14 during trading hours on Monday, reaching $154.28. 4,867,684 shares of the stock traded hands, compared to its average volume of 7,132,468. The company has a market cap of $277.26 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. 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’s 50-day moving average price is $153.69 and its two-hundred day moving average price is $150.95. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping 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%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 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.