Chevron Co. (NYSE:CVX) Shares Acquired by Darden Wealth Group Inc

Darden Wealth Group Inc boosted its stake in Chevron Co. (NYSE:CVX) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,141 shares of the oil and gas company’s stock after acquiring an additional 380 shares during the quarter. Darden Wealth Group Inc’s holdings in Chevron were worth $1,179,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. United Bank increased its holdings in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth $2,370,000. Two Sigma Advisers LP boosted its position in shares of Chevron by 1,202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 245,563 shares of the oil and gas company’s stock valued at $36,164,000 after acquiring an additional 226,707 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Chevron by 45.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 169,566 shares of the oil and gas company’s stock valued at $24,972,000 after purchasing an additional 53,295 shares during the period. Finally, Insigneo Advisory Services LLC increased its position in Chevron by 7.2% during the third quarter. Insigneo Advisory Services LLC now owns 18,189 shares of the oil and gas company’s stock worth $2,679,000 after purchasing an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $143.10 on Friday. The firm’s 50 day moving average is $157.38 and its two-hundred day moving average is $154.18. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96. 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 firm has a market capitalization of $251.95 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the company earned $3.45 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Piper Sandler cut their target price 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 decreased their price target on 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 reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Truist Financial cut their price target 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 equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.