Chevron Co. (NYSE:CVX) Stake Raised by Adero Partners LLC

Adero Partners LLC increased its holdings in Chevron Co. (NYSE:CVX) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the oil and gas company’s stock after buying an additional 426 shares during the quarter. Adero Partners LLC’s holdings in Chevron were worth $753,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Marietta Wealth Management LLC raised its stake in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC increased its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC raised its position in shares of Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

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 of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.1 %

Chevron stock opened at $153.01 on Thursday. 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 firm has a market capitalization of $274.98 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. The company has a 50 day moving average price of $152.79 and a 200 day moving average price of $150.89.

Chevron (NYSE:CVX) last posted 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 period last year, the business earned $3.45 EPS. Research analysts forecast that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 67.08%.

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.