Longbow Finance SA Increases Stock Position in Chevron Co. (NYSE:CVX)

Longbow Finance SA raised its position in Chevron Co. (NYSE:CVX) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,056 shares of the oil and gas company’s stock after acquiring an additional 1,281 shares during the quarter. Longbow Finance SA’s holdings in Chevron were worth $3,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter worth approximately $25,000. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the third quarter valued at about $31,000. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction 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 $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. 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 report on Tuesday, November 5th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.85 on Tuesday. The business has a 50-day simple moving average of $152.14 and a two-hundred day simple moving average of $151.20. 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 firm has a market cap of $283.68 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.33%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

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.