Community Financial Services Group LLC Grows Stake in Chevron Co. (NYSE:CVX)

Community Financial Services Group LLC increased its position in Chevron Co. (NYSE:CVX) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,614 shares of the oil and gas company’s stock after acquiring an additional 1,294 shares during the quarter. Community Financial Services Group LLC’s holdings in Chevron were worth $2,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CVX. Signet Investment Advisory Group Inc. boosted its position in Chevron by 5.9% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 14,639 shares of the oil and gas company’s stock worth $2,120,000 after purchasing an additional 816 shares during the last quarter. TCV Trust & Wealth Management Inc. lifted its stake in shares of Chevron by 1.0% in the 4th quarter. TCV Trust & Wealth Management Inc. now owns 95,717 shares of the oil and gas company’s stock worth $13,864,000 after purchasing an additional 965 shares during the period. Warther Private Wealth LLC boosted its holdings in shares of Chevron by 3.2% in the fourth quarter. Warther Private Wealth LLC now owns 2,689 shares of the oil and gas company’s stock worth $389,000 after buying an additional 83 shares during the last quarter. L. Roy Papp & Associates LLP grew its position in Chevron by 1.4% during the fourth quarter. L. Roy Papp & Associates LLP now owns 36,535 shares of the oil and gas company’s stock valued at $5,292,000 after buying an additional 500 shares during the period. Finally, Portfolio Design Labs LLC increased its holdings in Chevron by 23.2% during the fourth quarter. Portfolio Design Labs LLC now owns 11,902 shares of the oil and gas company’s stock valued at $1,724,000 after buying an additional 2,240 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Up 1.1 %

Shares of Chevron stock opened at $157.43 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $282.91 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business has a 50-day moving average price of $152.08 and a 200-day moving average price of $150.81.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. Chevron’s dividend payout ratio is presently 67.08%.

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.