Chevron Co. (NYSE:CVX) Shares Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 15,182.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,786 shares of the oil and gas company’s stock after purchasing an additional 260,073 shares during the period. Strategic Financial Concepts LLC’s holdings in Chevron were worth $37,917,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tacita Capital Inc lifted its stake in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. lifted its position in shares of 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 worth $1,212,000 after buying an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares in the last quarter. S.A. Mason LLC grew its position in shares of Chevron by 0.7% in 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 buying an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC raised its stake in Chevron by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $152.54 on Friday. The company has a market cap of $274.13 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average of $152.40 and a two-hundred day moving average of $150.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm posted $3.45 earnings per share. As a group, analysts predict that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.