Choreo LLC Acquires 28,914 Shares of Chevron Co. (NYSE:CVX)

Choreo LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 27.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,707 shares of the oil and gas company’s stock after purchasing an additional 28,914 shares during the period. Choreo LLC’s holdings in Chevron were worth $19,529,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Tacita Capital Inc increased its position in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. boosted its stake in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC increased its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC raised its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC lifted its holdings in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.1 %

NYSE CVX opened at $153.01 on Thursday. The stock’s 50-day moving average price is $152.79 and its 200-day moving average price is $150.89. The company has a market capitalization of $274.98 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 company posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. 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. Chevron’s dividend payout ratio is presently 67.08%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.