HBW Advisory Services LLC Boosts Stake in Chevron Co. (NYSE:CVX)

HBW Advisory Services LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,984 shares of the oil and gas company’s stock after buying an additional 359 shares during the period. HBW Advisory Services LLC’s holdings in Chevron were worth $2,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler reduced their price target 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. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group lifted their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.60.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $2.60 during trading on Friday, reaching $152.90. The company had a trading volume of 7,126,311 shares, compared to its average volume of 6,852,600. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $274.78 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The firm has a 50-day simple moving average of $153.68 and a 200-day simple moving average of $151.08.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. As a group, sell-side analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.