ST Germain D J Co. Inc. Grows Stake in Chevron Co. (NYSE:CVX)

ST Germain D J Co. Inc. raised its stake in Chevron Co. (NYSE:CVX) by 49.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,607 shares of the oil and gas company’s stock after purchasing an additional 6,822 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Chevron were worth $2,985,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rational Advisors LLC acquired a new position in Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.29 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $275.48 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.93 and a beta of 1.12. The stock’s 50 day moving average price is $153.69 and its 200 day moving average price is $151.04. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company 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 firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Truist Financial lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.60.

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.