Patriot Financial Group Insurance Agency LLC Purchases 696 Shares of Chevron Co. (NYSE:CVX)

Patriot Financial Group Insurance Agency LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 8.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,439 shares of the oil and gas company’s stock after buying an additional 696 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Chevron were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

Shares of NYSE CVX opened at $155.79 on Thursday. The firm’s 50 day moving average price is $153.67 and its 200-day moving average price is $151.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $279.97 billion, a PE ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS 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 the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays increased their price target 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. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

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.