Means Investment CO. Inc. Has $7.93 Million Stock Position in Chevron Co. (NYSE:CVX)

Means Investment CO. Inc. raised its stake in Chevron Co. (NYSE:CVX) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 54,765 shares of the oil and gas company’s stock after buying an additional 92 shares during the quarter. Chevron accounts for about 0.8% of Means Investment CO. Inc.’s holdings, making the stock its 24th biggest holding. Means Investment CO. Inc.’s holdings in Chevron were worth $7,932,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at about $39,000. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Truist Financial raised their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

NYSE:CVX opened at $149.21 on Monday. The stock’s 50-day simple moving average is $153.19 and its 200 day simple moving average is $151.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $268.14 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 67.08%.

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.