Smith Chas P & Associates PA Cpas Raises Position in Chevron Co. (NYSE:CVX)

Smith Chas P & Associates PA Cpas grew its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,718 shares of the oil and gas company’s stock after purchasing an additional 543 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Chevron were worth $2,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Rational Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $31,000. Finally, Krane Funds Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $155.62 on Monday. The company has a fifty day simple moving average of $153.81 and a two-hundred day simple moving average of $151.14. The company has a market cap of $279.66 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. 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.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS 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 the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on CVX. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Raymond James increased their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

About Chevron

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.