Morningstar Investment Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Morningstar Investment Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 32.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,282 shares of the oil and gas company’s stock after buying an additional 3,760 shares during the period. Morningstar Investment Management LLC’s holdings in Chevron were worth $2,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zullo Investment Group Inc. grew its holdings in shares of Chevron by 3.6% in the fourth quarter. Zullo Investment Group Inc. now owns 5,083 shares of the oil and gas company’s stock worth $736,000 after purchasing an additional 177 shares during the last quarter. First Bank & Trust grew its stake in Chevron by 30.9% in the 4th quarter. First Bank & Trust now owns 19,053 shares of the oil and gas company’s stock worth $2,760,000 after acquiring an additional 4,497 shares in the last quarter. Advyzon Investment Management LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $543,000. Unionview LLC raised its stake in shares of Chevron by 3.4% during the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock valued at $311,000 after acquiring an additional 70 shares in the last quarter. Finally, Sunpointe LLC boosted its holdings in shares of Chevron by 16.3% in the fourth quarter. Sunpointe LLC now owns 3,695 shares of the oil and gas company’s stock valued at $535,000 after purchasing an additional 518 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade 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 through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $157.14 on Thursday. The business’s 50-day moving average is $151.82 and its 200 day moving average is $150.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $282.39 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company posted $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.