E&G Advisors LP Has $1.07 Million Stock Holdings in Chevron Co. (NYSE:CVX)

E&G Advisors LP lowered its stake in shares of Chevron Co. (NYSE:CVX) by 6.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,384 shares of the oil and gas company’s stock after selling 520 shares during the period. E&G Advisors LP’s holdings in Chevron were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. State Street Corp grew its stake in 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 purchasing an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. increased its holdings in Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after buying an additional 573,218 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after acquiring an additional 138,496 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.1 %

CVX stock opened at $149.39 on Tuesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $268.46 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. The business’s 50-day simple moving average is $153.19 and its 200 day simple moving average is $151.02.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 period last year, the business posted $3.45 EPS. On average, research analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction 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 company insiders.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.60.

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.