Chevron Co. (NYSE:CVX) Holdings Lifted by Eagle Capital Management LLC

Eagle Capital Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,600 shares of the oil and gas company’s stock after buying an additional 242 shares during the period. Chevron accounts for about 2.0% of Eagle Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Eagle Capital Management LLC’s holdings in Chevron were worth $5,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fred Alger Management LLC grew its stake in shares of Chevron by 7.4% in the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock worth $10,022,000 after purchasing an additional 4,435 shares in the last quarter. AXA S.A. grew its position in Chevron by 15.1% in the 2nd quarter. AXA S.A. now owns 413,390 shares of the oil and gas company’s stock valued at $64,662,000 after buying an additional 54,363 shares in the last quarter. AQR Capital Management LLC increased its stake in Chevron by 41.3% during the 2nd quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock valued at $134,233,000 after buying an additional 250,902 shares during the period. Ameriprise Financial Inc. raised its position in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new stake in shares of Chevron in the 2nd quarter worth approximately $216,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $155.99 on Friday. The company has a market capitalization of $280.32 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.39 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 stock’s fifty day simple moving average is $154.05 and its 200-day simple moving average is $151.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.05 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given 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 4.18%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock 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 company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.