Chevron Co. (NYSE:CVX) Shares Purchased by Slagle Financial LLC

Slagle Financial LLC raised its position in Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 17,736 shares of the oil and gas company’s stock after purchasing an additional 470 shares during the period. Slagle Financial LLC’s holdings in Chevron were worth $2,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVX. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter worth about $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.7 %

Shares of NYSE CVX opened at $166.73 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The company has a market cap of $293.54 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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 stock’s 50 day simple moving average is $157.01 and its 200 day simple moving average is $153.21.

Chevron (NYSE:CVX) last posted 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 period in the prior year, the firm earned $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.10%. Chevron’s dividend payout ratio is 70.37%.

Insider Buying and Selling at Chevron

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

Analysts Set New Price Targets

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