Patriot Investment Management Group Inc. Buys 157 Shares of Chevron Co. (NYSE:CVX)

Patriot Investment Management Group Inc. raised its stake in Chevron Co. (NYSE:CVX) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,194 shares of the oil and gas company’s stock after acquiring an additional 157 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Chevron were worth $318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new position in Chevron in the 2nd quarter valued at approximately $244,000. Scientech Research LLC raised its holdings in Chevron by 132.3% in the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 2,849 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Chevron by 26.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 5,454 shares of the oil and gas company’s stock valued at $853,000 after buying an additional 1,154 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in Chevron by 12.2% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 9,396 shares of the oil and gas company’s stock valued at $1,470,000 after buying an additional 1,022 shares during the last quarter. Finally, Core Wealth Advisors Inc. raised its holdings in Chevron by 7.5% in the 2nd quarter. Core Wealth Advisors Inc. now owns 1,279 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 89 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. DZ Bank raised shares of 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. Truist Financial increased their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, UBS Group raised their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $155.62 on Friday. The company has a fifty day simple moving average of $153.81 and a 200 day simple moving average of $151.15. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 has a market cap of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.