41,754 Shares in Chevron Co. (NYSE:CVX) Purchased by GWN Securities Inc.

GWN Securities Inc. bought a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 41,754 shares of the oil and gas company’s stock, valued at approximately $6,494,000. Chevron comprises 1.7% of GWN Securities Inc.’s holdings, making the stock its 7th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. State Street Corp boosted its position in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the period. LPL Financial LLC grew its holdings in Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after buying an additional 171,089 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Chevron in the 4th quarter valued at approximately $594,000. Finally, Unified Investment Management bought a new stake in Chevron during the 4th quarter valued at $729,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 2.3 %

Shares of NYSE CVX opened at $157.10 on Friday. 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 $167.11. The company has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. The business has a fifty day simple moving average of $155.03 and a 200-day simple moving average of $152.02.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 quarter in the previous year, the business earned $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.35%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was 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 approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four equities 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.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.