Affiance Financial LLC Takes $205,000 Position in Chevron Co. (NYSE:CVX)

Affiance Financial LLC acquired a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,412 shares of the oil and gas company’s stock, valued at approximately $205,000.

Several other large investors have also bought and sold shares of the stock. Deerfield Management Company L.P. Series C bought a new stake in Chevron during the second quarter worth $244,000. Scientech Research LLC increased its stake in shares of Chevron by 132.3% during the 2nd quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 2,849 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Chevron by 6.4% in the second quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock valued at $432,000 after buying an additional 167 shares during the period. Creative Planning raised its stake in Chevron by 1.8% in the 2nd quarter. Creative Planning now owns 569,660 shares of the oil and gas company’s stock valued at $89,106,000 after acquiring an additional 10,291 shares during the period. Finally, Copperwynd Financial LLC lifted its stake in shares of Chevron by 15.8% during the 2nd quarter. Copperwynd Financial LLC now owns 5,110 shares of the oil and gas company’s stock valued at $820,000 after buying an additional 696 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVX shares. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. UBS Group boosted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Four investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $155.62 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 moving average price is $153.81 and its 200-day moving average price is $151.14. The stock has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s payout ratio is currently 71.65%.

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.