Chevron Co. (NYSE:CVX) Holdings Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 89.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,755 shares of the oil and gas company’s stock after purchasing an additional 10,723 shares during the period. Frank Rimerman Advisors LLC’s holdings in Chevron were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Family Firm Inc. lifted its stake in Chevron by 15.6% in the 4th quarter. Family Firm Inc. now owns 2,721 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 368 shares in the last quarter. Van Strum & Towne Inc. lifted its stake in Chevron by 8.9% in the 4th quarter. Van Strum & Towne Inc. now owns 17,324 shares of the oil and gas company’s stock worth $2,509,000 after acquiring an additional 1,417 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in Chevron in the 4th quarter worth about $836,000. Catalyst Funds Management Pty Ltd lifted its stake in Chevron by 75.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,100 shares of the oil and gas company’s stock worth $3,201,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Montis Financial LLC lifted its stake in Chevron by 8.3% in the 4th quarter. Montis Financial LLC now owns 1,600 shares of the oil and gas company’s stock worth $232,000 after acquiring an additional 122 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $157.10 on Friday. The firm has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock’s 50 day moving average price is $155.03 and its two-hundred day moving average price is $151.98. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its 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 period last year, the business posted $3.45 earnings per share. On average, equities analysts forecast 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 was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Truist Financial cut their price target on 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.