ERn Financial LLC Buys 114 Shares of Chevron Co. (NYSE:CVX)

ERn Financial LLC grew its stake in Chevron Co. (NYSE:CVX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,738 shares of the oil and gas company’s stock after acquiring an additional 114 shares during the period. ERn Financial LLC’s holdings in Chevron were worth $976,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. bought a new position in Chevron during the 2nd quarter worth about $2,398,000. Waterloo Capital L.P. lifted its position in shares of Chevron by 4.1% in the 2nd quarter. Waterloo Capital L.P. now owns 7,542 shares of the oil and gas company’s stock worth $1,180,000 after purchasing an additional 300 shares during the period. Seven Eight Capital LP bought a new position in shares of Chevron during the second quarter valued at approximately $1,335,000. Carolinas Wealth Consulting LLC increased its holdings in Chevron by 12.8% during the second quarter. Carolinas Wealth Consulting LLC now owns 4,038 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 459 shares during the period. Finally, Altrius Capital Management Inc raised its stake in Chevron by 5.3% in the second quarter. Altrius Capital Management Inc now owns 28,192 shares of the oil and gas company’s stock worth $4,410,000 after buying an additional 1,421 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.6 %

NYSE CVX opened at $159.33 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business has a fifty day moving average price of $153.79 and a 200 day moving average price of $151.00. The company has a market cap of $286.32 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

Several analysts have commented on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group upped their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction 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 $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.