Schnieders Capital Management LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Schnieders Capital Management LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,905 shares of the oil and gas company’s stock after buying an additional 1,570 shares during the quarter. Chevron makes up about 1.3% of Schnieders Capital Management LLC’s holdings, making the stock its 19th largest position. Schnieders Capital Management LLC’s holdings in Chevron were worth $6,504,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the period. Franklin Resources Inc. boosted its holdings in Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. 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. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $154.99 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a 50-day moving average of $152.52 and a two-hundred day moving average of $151.31. The stock has a market cap of $278.53 billion, a P/E ratio of 15.95, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued 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 quarter last year, the business posted $3.45 earnings per share. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm 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 is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.41%. Chevron’s dividend 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.