Sovran Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

Sovran Advisors LLC acquired a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,970 shares of the oil and gas company’s stock, valued at approximately $937,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Chevron during the fourth quarter worth approximately $846,000. Essex Financial Services Inc. lifted its position in shares of Chevron by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 50,088 shares of the oil and gas company’s stock valued at $7,255,000 after acquiring an additional 654 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its stake in shares of Chevron by 33.5% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 4,954 shares of the oil and gas company’s stock worth $718,000 after acquiring an additional 1,243 shares in the last quarter. MADDEN SECURITIES Corp grew its holdings in shares of Chevron by 5.0% in the 4th quarter. MADDEN SECURITIES Corp now owns 34,711 shares of the oil and gas company’s stock worth $5,028,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Sapient Capital LLC raised its position in shares of Chevron by 4.0% during the fourth quarter. Sapient Capital LLC now owns 312,152 shares of the oil and gas company’s stock worth $45,212,000 after purchasing an additional 11,998 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.43 on Wednesday. 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 one year low of $135.37 and a one year high of $167.11. The business’s 50-day moving average price is $152.08 and its two-hundred day moving average price is $150.81. The company has a market capitalization of $282.91 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the prior year, the firm posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.34%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. 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 research report on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target 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.