Chevron Co. (NYSE:CVX) Shares Bought by Money Concepts Capital Corp

Money Concepts Capital Corp lifted its stake in shares of Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,987 shares of the oil and gas company’s stock after purchasing an additional 527 shares during the quarter. Money Concepts Capital Corp’s holdings in Chevron were worth $1,157,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVX. State Street Corp increased its stake in shares of Chevron by 0.6% during the third 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 acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% during the 3rd 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 in the last quarter. Fisher Asset Management LLC increased its position in shares of Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. raised its stake in shares of Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after buying an additional 573,218 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Chevron by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after buying an additional 138,496 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.1 %

Chevron stock opened at $153.01 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s fifty day moving average price is $152.79 and its two-hundred day moving average price is $150.89. The company has a market capitalization of $274.98 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm earned $3.45 EPS. On average, analysts forecast that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVX has been the topic of several research reports. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday. Finally, Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.