Richwood Investment Advisors LLC Has $410,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Richwood Investment Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX) by 22.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,827 shares of the oil and gas company’s stock after purchasing an additional 525 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Chevron were worth $410,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Wallace Capital Management Inc. increased its position in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares during the last quarter. TFB Advisors LLC increased its stake in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares during the period. W.H. Cornerstone Investments Inc. grew its position in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in Chevron by 0.5% during the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial cut their target price 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. Finally, Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

Shares of Chevron stock opened at $164.37 on Friday. The firm has a fifty day moving average of $156.29 and a two-hundred day moving average of $152.57. The stock has a market capitalization of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. 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.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $3.45 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. Chevron’s payout ratio is 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.