Chevron Co. (NYSE:CVX) Stake Raised by Canopy Partners LLC

Canopy Partners LLC increased its holdings in Chevron Co. (NYSE:CVX) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,946 shares of the oil and gas company’s stock after purchasing an additional 578 shares during the quarter. Canopy Partners LLC’s holdings in Chevron were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC lifted its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CVX. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 8.3 %

CVX stock opened at $143.10 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The company has a 50 day moving average of $157.38 and a two-hundred day moving average of $154.25. The company has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $3.45 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.