Lane & Associates LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Lane & Associates LLC boosted its position in Chevron Co. (NYSE:CVX) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,831 shares of the oil and gas company’s stock after buying an additional 285 shares during the quarter. Lane & Associates LLC’s holdings in Chevron were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Life Planning Partners Inc purchased a new position in shares of Chevron in the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the third quarter valued at $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now 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 legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Up 1.1 %

Shares of CVX stock opened at $158.89 on Friday. 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 business has a 50-day moving average price of $151.91 and a two-hundred day moving average price of $150.91. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $285.53 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 prior year, the business posted $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

About Chevron

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.