Assetmark Inc. Has $24.54 Million Stake in Chevron Co. (NYSE:CVX)

Assetmark Inc. raised its position in Chevron Co. (NYSE:CVX) by 21.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 169,436 shares of the oil and gas company’s stock after purchasing an additional 29,532 shares during the period. Assetmark Inc.’s holdings in Chevron were worth $24,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in shares of Chevron in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was 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 at this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVX. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Down 0.7 %

Shares of CVX stock opened at $150.93 on Thursday. The firm has a 50 day moving average price of $153.65 and a two-hundred day moving average price of $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $265.73 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the company earned $3.45 earnings per share. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current 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 given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.53%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

About Chevron

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.