Investment Partners LTD. Purchases 375 Shares of Chevron Co. (NYSE:CVX)

Investment Partners LTD. raised its position in Chevron Co. (NYSE:CVX) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 8,392 shares of the oil and gas company’s stock after acquiring an additional 375 shares during the period. Investment Partners LTD.’s holdings in Chevron were worth $1,216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 11.5% in the 3rd 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 purchasing an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its holdings in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares during the last quarter. State Street Corp increased its holdings in 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 valued at $23,431,429,000 after buying an additional 874,962 shares during the last quarter. LPL Financial LLC raised its position in Chevron by 5.7% in the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after acquiring an additional 171,089 shares during the period. Finally, Dale Q Rice Investment Management Ltd purchased a new position in shares of Chevron during the 4th quarter worth $594,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.2 %

Shares of Chevron stock opened at $158.59 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $279.21 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business has a 50-day moving average price of $153.14 and a 200-day moving average price of $151.54.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 previous year, the firm posted $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared 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 an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays reduced their target price 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 lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report 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 MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

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.