Sage Investment Counsel LLC Takes Position in Chevron Co. (NYSE:CVX)

Sage Investment Counsel LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,503 shares of the oil and gas company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $17,050,000. Waterway Wealth Management LLC increased its stake in shares of Chevron by 8.5% in the fourth quarter. Waterway Wealth Management LLC now owns 7,680 shares of the oil and gas company’s stock valued at $1,112,000 after buying an additional 603 shares during the period. Pettyjohn Wood & White Inc. increased its stake in shares of Chevron by 0.8% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 50,205 shares of the oil and gas company’s stock valued at $7,272,000 after buying an additional 393 shares during the period. Hosking Partners LLP increased its stake in shares of Chevron by 34.5% in the fourth quarter. Hosking Partners LLP now owns 39,206 shares of the oil and gas company’s stock valued at $5,679,000 after buying an additional 10,054 shares during the period. Finally, Fielder Capital Group LLC increased its stake in shares of Chevron by 0.6% in the fourth quarter. Fielder Capital Group LLC now owns 17,266 shares of the oil and gas company’s stock valued at $2,501,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $158.59 on Friday. The stock has a market capitalization of $285.00 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50 day moving average price is $153.14 and its two-hundred day moving average price is $151.44. 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 (NYSE:CVX) last posted its quarterly earnings results 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 firm earned $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change 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%.

Insider Transactions at Chevron

In other 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four 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 currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.