Gallagher Capital Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

Gallagher Capital Advisors LLC bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, Holdings Channel reports. The firm bought 1,686 shares of the oil and gas company’s stock, valued at approximately $244,000.

A number of other large investors also recently modified their holdings of CVX. Daiwa Securities Group Inc. grew its holdings in shares of Chevron by 3.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 301,855 shares of the oil and gas company’s stock valued at $43,720,000 after acquiring an additional 10,772 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chevron by 46.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 589,223 shares of the oil and gas company’s stock valued at $85,343,000 after purchasing an additional 185,528 shares during the last quarter. Fairscale Capital LLC boosted its holdings in Chevron by 11.5% in the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock worth $102,000 after buying an additional 73 shares during the period. Solitude Financial Services grew its position in shares of Chevron by 11.0% in the fourth quarter. Solitude Financial Services now owns 22,378 shares of the oil and gas company’s stock valued at $3,241,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in Chevron by 28.7% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,613 shares of the oil and gas company’s stock valued at $813,000 after buying an additional 1,250 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 2.3 %

Shares of NYSE CVX opened at $156.48 on Monday. The firm has a fifty day simple moving average of $154.08 and a two-hundred day simple moving average of $151.78. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $275.51 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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

Chevron Increases Dividend

The firm also recently announced 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 4.37%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

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.