Skba Capital Management LLC Increases Position in Chevron Co. (NYSE:CVX)

Skba Capital Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,725 shares of the oil and gas company’s stock after buying an additional 1,200 shares during the period. Chevron comprises about 1.6% of Skba Capital Management LLC’s holdings, making the stock its 26th largest holding. Skba Capital Management LLC’s holdings in Chevron were worth $9,809,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. United Bank increased its stake in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth $2,370,000. Cobblestone Capital Advisors LLC NY increased its position in shares of Chevron by 3.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 28,623 shares of the oil and gas company’s stock worth $4,215,000 after acquiring an additional 883 shares during the period. Semmax Financial Advisors Inc. boosted its holdings in Chevron by 2.6% in the third quarter. Semmax Financial Advisors Inc. now owns 5,343 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 134 shares during the period. Finally, Morton Community Bank boosted its holdings in Chevron by 1.8% in the third quarter. Morton Community Bank now owns 25,957 shares of the oil and gas company’s stock valued at $3,823,000 after purchasing an additional 458 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays reduced their target price 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. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 0.4 %

Chevron stock opened at $166.06 on Monday. The company has a market capitalization of $292.37 billion, a P/E ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $168.96. The stock has a 50-day simple moving average of $157.10 and a 200-day simple moving average of $153.60.

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 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 in the previous year, the firm posted $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

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.