Root Financial Partners LLC Purchases 2,216 Shares of Chevron Co. (NYSE:CVX)

Root Financial Partners LLC raised its holdings in Chevron Co. (NYSE:CVX) by 53.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,380 shares of the oil and gas company’s stock after purchasing an additional 2,216 shares during the period. Root Financial Partners LLC’s holdings in Chevron were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at about $25,000. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $156.00 on Friday. The company has a fifty day moving average price of $151.92 and a two-hundred day moving average price of $150.84. 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 firm has a market capitalization of $280.35 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 EPS. As a group, analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.38%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.