Stockman Wealth Management Inc. Increases Stock Position in Chevron Co. (NYSE:CVX)

Stockman Wealth Management Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 68,064 shares of the oil and gas company’s stock after purchasing an additional 2,607 shares during the period. Chevron accounts for about 1.5% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Stockman Wealth Management Inc.’s holdings in Chevron were worth $9,858,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Watts Gwilliam & Co. LLC purchased a new stake in Chevron during the 3rd quarter valued at approximately $600,000. Private Advisory Group LLC purchased a new stake in Chevron during the 3rd quarter valued at approximately $247,000. Ferguson Shapiro LLC raised its stake in Chevron by 9.9% during the 3rd quarter. Ferguson Shapiro LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 268 shares during the last quarter. Walker Financial Services Inc. increased its position in Chevron by 11.6% during the 3rd quarter. Walker Financial Services Inc. now owns 2,053 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 213 shares during the period. Finally, Juncture Wealth Strategies LLC increased its position in Chevron by 42.8% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,503 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $152.54 on Friday. The business’s 50 day moving average is $152.21 and its 200-day moving average is $150.88. The stock has a market cap of $274.13 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 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 last year, the business posted $3.45 EPS. On average, analysts predict that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.