SRS Capital Advisors Inc. Purchases 11,541 Shares of Chevron Co. (NYSE:CVX)

SRS Capital Advisors Inc. grew its position in Chevron Co. (NYSE:CVX) by 462.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,038 shares of the oil and gas company’s stock after acquiring an additional 11,541 shares during the period. SRS Capital Advisors Inc.’s holdings in Chevron were worth $2,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVX. Asahi Life Asset Management CO. LTD. lifted its holdings in shares of Chevron by 9.8% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 14,246 shares of the oil and gas company’s stock worth $2,063,000 after buying an additional 1,273 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Chevron by 0.7% in the fourth quarter. Bailard Inc. now owns 84,211 shares of the oil and gas company’s stock worth $12,197,000 after buying an additional 563 shares in the last quarter. Norden Group LLC lifted its holdings in shares of Chevron by 8.4% in the fourth quarter. Norden Group LLC now owns 18,818 shares of the oil and gas company’s stock worth $2,726,000 after buying an additional 1,459 shares in the last quarter. Kinsale Capital Group Inc. lifted its holdings in shares of Chevron by 1.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 37,527 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 384 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Chevron by 21.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 22,187 shares of the oil and gas company’s stock worth $3,174,000 after buying an additional 3,915 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were 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 owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $158.59 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50 day moving average price is $153.14 and its 200 day moving average price is $151.49. The company has a market cap of $279.21 billion, a P/E ratio of 16.32, a PEG ratio of 1.46 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 (NYSE:CVX) last announced its 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.