Capital Investment Advisors LLC Purchases 1,446 Shares of Chevron Co. (NYSE:CVX)

Capital Investment Advisors LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 299,693 shares of the oil and gas company’s stock after acquiring an additional 1,446 shares during the quarter. Capital Investment Advisors LLC’s holdings in Chevron were worth $43,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Marietta Wealth Management LLC grew its holdings in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Leo Wealth LLC raised its stake in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its holdings in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares during the period. Finally, State Street Corp raised its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on 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 directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 1.6 %

CVX traded up $2.41 during midday trading on Monday, hitting $155.55. 4,110,830 shares of the company’s stock traded hands, compared to its average volume of 6,964,073. 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 company has a market cap of $279.54 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock’s fifty day simple moving average is $153.69 and its 200-day simple moving average is $150.95.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four 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 currently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

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.