Chevron Co. (NYSE:CVX) Shares Purchased by Summit Financial LLC

Summit Financial LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 91.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,159 shares of the oil and gas company’s stock after purchasing an additional 13,934 shares during the quarter. Summit Financial LLC’s holdings in Chevron were worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Prudent Man Investment Management Inc. purchased a new position in shares of Chevron during the fourth quarter worth about $45,000. Bedell Frazier Investment Counselling LLC grew its stake in Chevron by 35.7% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 18,018 shares of the oil and gas company’s stock worth $2,610,000 after buying an additional 4,742 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in Chevron by 3.6% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 7,620 shares of the oil and gas company’s stock worth $1,104,000 after buying an additional 268 shares during the period. D L Carlson Investment Group Inc. lifted its stake in Chevron by 35.7% in the fourth quarter. D L Carlson Investment Group Inc. now owns 3,274 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 862 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in shares of Chevron by 20.5% in the fourth quarter. AIA Group Ltd now owns 35,327 shares of the oil and gas company’s stock valued at $5,117,000 after acquiring an additional 6,009 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. UBS Group lowered 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, Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 0.9 %

Shares of CVX opened at $167.52 on Tuesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $294.94 billion, a P/E ratio of 17.23, a PEG ratio of 1.46 and a beta of 1.08. The firm’s 50-day moving average is $157.22 and its two-hundred day moving average is $153.80.

Chevron (NYSE:CVX) last released 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 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 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed 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 was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.08%. Chevron’s payout ratio is currently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

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.