Citizens Financial Group Inc. RI Raises Holdings in Chevron Co. (NYSE:CVX)

Citizens Financial Group Inc. RI boosted its stake in shares of Chevron Co. (NYSE:CVX) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,558 shares of the oil and gas company’s stock after acquiring an additional 5,822 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Chevron were worth $8,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sage Mountain Advisors LLC lifted its holdings in Chevron by 5.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 11,883 shares of the oil and gas company’s stock worth $1,721,000 after buying an additional 615 shares during the period. Riverbend Wealth Management LLC purchased a new stake in Chevron in the 4th quarter worth approximately $869,000. Claris Advisors LLC MO lifted its holdings in Chevron by 19.3% in the 4th quarter. Claris Advisors LLC MO now owns 2,304 shares of the oil and gas company’s stock worth $334,000 after buying an additional 372 shares during the period. Clare Market Investments LLC purchased a new stake in Chevron in the 4th quarter worth approximately $524,000. Finally, Vista Investment Partners II LLC purchased a new stake in Chevron in the 4th quarter worth approximately $628,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.8 %

CVX stock opened at $157.67 on Tuesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 firm has a market cap of $277.59 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50 day moving average of $154.37 and a 200 day moving average of $151.86.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $3.45 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.34%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.