Morningstar Investment Management LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Morningstar Investment Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 32.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,282 shares of the oil and gas company’s stock after buying an additional 3,760 shares during the period. Morningstar Investment Management LLC’s holdings in Chevron were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Zullo Investment Group Inc. lifted its stake in shares of Chevron by 3.6% in the 4th quarter. Zullo Investment Group Inc. now owns 5,083 shares of the oil and gas company’s stock worth $736,000 after purchasing an additional 177 shares during the period. First Bank & Trust raised its position in Chevron by 30.9% in the fourth quarter. First Bank & Trust now owns 19,053 shares of the oil and gas company’s stock worth $2,760,000 after acquiring an additional 4,497 shares during the period. Advyzon Investment Management LLC purchased a new position in shares of Chevron during the 4th quarter worth $543,000. Unionview LLC grew its position in shares of Chevron by 3.4% during the 4th quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock valued at $311,000 after acquiring an additional 70 shares during the period. Finally, Sunpointe LLC increased its stake in shares of Chevron by 16.3% in the 4th quarter. Sunpointe LLC now owns 3,695 shares of the oil and gas company’s stock worth $535,000 after purchasing an additional 518 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.6 %

Shares of CVX opened at $157.14 on Thursday. 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 stock has a market capitalization of $282.39 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s 50 day simple moving average is $151.82 and its 200-day simple moving average is $150.85.

Chevron (NYSE:CVX) last released 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 in the prior year, the business posted $3.45 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share 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 given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.