Chevron Co. (NYSE:CVX) Position Increased by Weik Capital Management

Weik Capital Management boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,810 shares of the oil and gas company’s stock after buying an additional 160 shares during the period. Chevron comprises about 0.8% of Weik Capital Management’s portfolio, making the stock its 28th biggest holding. Weik Capital Management’s holdings in Chevron were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. United Bank grew its position in shares of 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. Loomis Sayles & Co. L P raised its position in Chevron by 7.2% during the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock worth $355,000 after acquiring an additional 163 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in Chevron by 10.0% during the 3rd quarter. Freedom Investment Management Inc. now owns 9,089 shares of the oil and gas company’s stock valued at $1,339,000 after purchasing an additional 830 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $31,000. Finally, Providence Capital Advisors LLC grew its position in Chevron by 29.3% during the third quarter. Providence Capital Advisors LLC now owns 24,072 shares of the oil and gas company’s stock worth $3,545,000 after buying an additional 5,458 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $166.73 on Friday. The company’s fifty day moving average price is $157.01 and its 200-day moving average price is $153.21. The firm has a market capitalization of $293.54 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus 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.