Tectonic Advisors LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Tectonic Advisors LLC boosted its stake in Chevron Co. (NYSE:CVX) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,082 shares of the oil and gas company’s stock after buying an additional 364 shares during the quarter. Tectonic Advisors LLC’s holdings in Chevron were worth $1,026,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVX. Money Concepts Capital Corp lifted its position in shares of Chevron by 7.1% during the 4th quarter. Money Concepts Capital Corp now owns 7,987 shares of the oil and gas company’s stock worth $1,157,000 after buying an additional 527 shares in the last quarter. Confluence Wealth Services Inc. increased its position in shares of Chevron by 9.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 41,435 shares of the oil and gas company’s stock valued at $6,464,000 after acquiring an additional 3,407 shares during the last quarter. Lion Street Advisors LLC lifted its holdings in Chevron by 4.6% during the fourth quarter. Lion Street Advisors LLC now owns 9,316 shares of the oil and gas company’s stock worth $1,349,000 after acquiring an additional 411 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Chevron by 15.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,344 shares of the oil and gas company’s stock worth $99,907,000 after purchasing an additional 92,831 shares during the last quarter. Finally, Virginia Wealth Management Group Inc. grew its stake in Chevron by 1.4% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 23,716 shares of the oil and gas company’s stock valued at $3,435,000 after purchasing an additional 337 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was 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 $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Down 0.1 %

Shares of NYSE CVX opened at $153.01 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $274.98 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The business has a 50-day simple moving average of $152.79 and a two-hundred day simple moving average of $150.89.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm posted $3.45 EPS. Research analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 67.08%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday. Finally, Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.