Community Financial Services Group LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Community Financial Services Group LLC lifted its stake in Chevron Co. (NYSE:CVX) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,614 shares of the oil and gas company’s stock after buying an additional 1,294 shares during the period. Community Financial Services Group LLC’s holdings in Chevron were worth $2,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in Chevron in the 3rd quarter worth approximately $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1 %

NYSE:CVX opened at $157.43 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50-day simple moving average is $152.08 and its 200 day simple moving average is $150.81. The firm has a market capitalization of $282.91 billion, a P/E ratio of 16.20, a PEG ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $3.45 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average 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.