Cascade Investment Group Inc. Buys 371 Shares of Chevron Co. (NYSE:CVX)

Cascade Investment Group Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,353 shares of the oil and gas company’s stock after acquiring an additional 371 shares during the period. Chevron comprises approximately 1.5% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 15th biggest holding. Cascade Investment Group Inc.’s holdings in Chevron were worth $2,079,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVX. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Truist Financial upped their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup upgraded 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. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Chevron

In other 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $161.54 on Monday. The business has a fifty day moving average of $153.93 and a 200 day moving average of $151.05. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $3.05 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

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.