Successful Portfolios LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Successful Portfolios LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 15.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,897 shares of the oil and gas company’s stock after purchasing an additional 671 shares during the period. Successful Portfolios LLC’s holdings in Chevron were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Great Lakes Retirement Inc. increased its holdings in shares of Chevron by 1.0% in the fourth quarter. Great Lakes Retirement Inc. now owns 8,358 shares of the oil and gas company’s stock valued at $1,247,000 after purchasing an additional 84 shares during the period. Buckley Wealth Management LLC grew its position in Chevron by 4.3% during the fourth quarter. Buckley Wealth Management LLC now owns 114,042 shares of the oil and gas company’s stock worth $17,011,000 after buying an additional 4,685 shares during the period. Pettinga Financial Advisors LLC lifted its position in shares of Chevron by 14.5% during the 4th quarter. Pettinga Financial Advisors LLC now owns 2,697 shares of the oil and gas company’s stock valued at $402,000 after acquiring an additional 341 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in shares of Chevron by 141.1% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 14,062 shares of the oil and gas company’s stock worth $2,097,000 after acquiring an additional 8,230 shares in the last quarter. Finally, Hill Island Financial LLC grew its holdings in shares of Chevron by 21.9% in the 4th quarter. Hill Island Financial LLC now owns 1,528 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 275 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a report on Tuesday, January 16th. Piper Sandler decreased their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Mizuho increased their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Finally, UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Stock Up 0.9 %

Shares of CVX traded up $1.39 during mid-day trading on Thursday, reaching $157.74. 8,232,108 shares of the stock traded hands, compared to its average volume of 8,731,655. The stock has a fifty day simple moving average of $151.60 and a 200 day simple moving average of $152.67. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $292.97 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the company earned $4.09 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Chevron Company 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.