MONECO Advisors LLC Boosts Stake in Chevron Co. (NYSE:CVX)

MONECO Advisors LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,516 shares of the oil and gas company’s stock after buying an additional 1,724 shares during the quarter. MONECO Advisors LLC’s holdings in Chevron were worth $2,971,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc raised its stake in Chevron by 16.7% during the 3rd 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. raised 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 acquiring an additional 65 shares in the last quarter. TFB Advisors LLC raised its stake in Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. raised its stake in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Finally, S.A. Mason LLC raised its stake in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Chevron

In related 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.92 on Friday. The stock has a market cap of $282.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The business has a fifty day simple moving average of $151.97 and a 200-day simple moving average of $151.05. 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 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.