Family Legacy Inc. Purchases 84 Shares of Chevron Co. (NYSE:CVX)

Family Legacy Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, HoldingsChannel reports. The fund owned 7,887 shares of the oil and gas company’s stock after buying an additional 84 shares during the quarter. Family Legacy Inc.’s holdings in Chevron were worth $1,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rodgers Brothers Inc. grew its holdings in shares of Chevron by 1.5% during the fourth quarter. Rodgers Brothers Inc. now owns 51,805 shares of the oil and gas company’s stock worth $7,503,000 after purchasing an additional 768 shares during the last quarter. Seven Mile Advisory grew its holdings in Chevron by 19.7% during the 4th quarter. Seven Mile Advisory now owns 2,135 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 351 shares during the last quarter. Colrain Capital LLC acquired a new position in Chevron in the 4th quarter valued at approximately $263,000. Summit Financial LLC raised its stake in shares of Chevron by 91.5% during the fourth quarter. Summit Financial LLC now owns 29,159 shares of the oil and gas company’s stock valued at $4,223,000 after acquiring an additional 13,934 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $166.06 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The firm’s 50-day moving average price is $157.10 and its 200-day moving average price is $153.60. 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 $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period in the prior year, the firm earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.