Sky Investment Group LLC Buys 221 Shares of Chevron Co. (NYSE:CVX)

Sky Investment Group LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 56,299 shares of the oil and gas company’s stock after acquiring an additional 221 shares during the period. Chevron accounts for about 1.5% of Sky Investment Group LLC’s holdings, making the stock its 24th biggest holding. Sky Investment Group LLC’s holdings in Chevron were worth $8,154,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Rational Advisors LLC bought a new stake in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Chevron during the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $158.16 on Wednesday. The stock has a market capitalization of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 business has a fifty day moving average price of $154.03 and a two-hundred day moving average price of $151.04.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.05 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Announces Dividend

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. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVX shares. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Truist Financial lifted their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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 stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.