Hazlett Burt & Watson Inc. Grows Stock Position in Chevron Co. (NYSE:CVX)

Hazlett Burt & Watson Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,406 shares of the oil and gas company’s stock after buying an additional 525 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Chevron were worth $1,075,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CVX. State Street Corp raised its stake in shares of 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 worth $23,431,429,000 after buying an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank bought a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Fisher Asset Management LLC lifted its holdings in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 573,218 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. 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. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Chevron stock opened at $166.06 on Monday. The company’s 50-day moving average price is $157.10 and its 200-day moving average price is $153.60. 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 $292.37 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $3.45 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio (DPR) 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.