Confluence Wealth Services Inc. Has $6.46 Million Stock Position in Chevron Co. (NYSE:CVX)

Confluence Wealth Services Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,435 shares of the oil and gas company’s stock after acquiring an additional 3,407 shares during the period. Confluence Wealth Services Inc.’s holdings in Chevron were worth $6,464,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Czech National Bank boosted its stake in shares of Chevron by 6.1% in the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after purchasing an additional 19,878 shares during the last quarter. Kesler Norman & Wride LLC boosted its position in Chevron by 19.5% during the third quarter. Kesler Norman & Wride LLC now owns 1,964 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 320 shares during the last quarter. O Keefe Stevens Advisory Inc. grew its holdings in Chevron by 7.4% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 1,537 shares of the oil and gas company’s stock worth $226,000 after acquiring an additional 106 shares during the period. Reliant Investment Management LLC grew its holdings in Chevron by 5.0% during the 3rd quarter. Reliant Investment Management LLC now owns 1,648 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 79 shares during the period. Finally, Leibman Financial Services Inc. raised its position in shares of Chevron by 4.9% in the 3rd quarter. Leibman Financial Services Inc. now owns 18,960 shares of the oil and gas company’s stock worth $2,792,000 after acquiring an additional 887 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVX shares. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX opened at $153.01 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $274.98 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. The stock has a 50 day moving average price of $152.79 and a 200-day moving average price of $150.89. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

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 the consensus estimate 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 previous year, the business posted $3.45 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.