Corient Private Wealth LLC Has $359.51 Million Holdings in Chevron Co. (NYSE:CVX)

Corient Private Wealth LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,525,525 shares of the oil and gas company’s stock after acquiring an additional 19,155 shares during the period. Corient Private Wealth LLC’s holdings in Chevron were worth $359,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Pettinga Financial Advisors LLC increased its position in Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares during the period. United Bank increased its position 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 worth $1,192,000 after purchasing an additional 629 shares during the period. Entropy Technologies LP bought a new position in shares of Chevron in the third quarter worth $380,000. Lifeworks Advisors LLC bought a new position in shares of Chevron in the third quarter worth $233,000. Finally, ING Groep NV bought a new position in shares of Chevron in the third quarter worth $732,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Citigroup raised 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $157.10 on Friday. The business’s 50-day moving average price is $155.03 and its 200-day moving average price is $152.02. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market capitalization of $276.59 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by 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.