Chevron Co. (NYSE:CVX) Stake Lifted by PSI Advisors LLC

PSI Advisors LLC boosted its stake in Chevron Co. (NYSE:CVX) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,155 shares of the oil and gas company’s stock after buying an additional 209 shares during the period. PSI Advisors LLC’s holdings in Chevron were worth $1,905,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its stake in Chevron by 5.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after acquiring an additional 2,385 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of Chevron during the second quarter valued at $591,000. Black Diamond Financial LLC acquired a new position in shares of Chevron during the second quarter valued at $301,000. Massachusetts Financial Services Co. MA lifted its holdings in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after buying an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX stock opened at $155.07 on Tuesday. The firm has a 50-day moving average of $153.71 and a two-hundred day moving average of $150.94. The firm has a market capitalization of $278.67 billion, a PE ratio of 17.04, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. Chevron’s dividend payout ratio is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note 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 stock currently has an average rating of “Moderate Buy” and an average target price of $174.87.

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.