ICW Investment Advisors LLC Has $2.17 Million Stake in Chevron Co. (NYSE:CVX)

ICW Investment Advisors LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 16.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,997 shares of the oil and gas company’s stock after acquiring an additional 2,159 shares during the quarter. ICW Investment Advisors LLC’s holdings in Chevron were worth $2,172,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Jackson Thornton Wealth Management LLC acquired a new position in Chevron during the fourth quarter worth about $230,000. Woodmont Investment Counsel LLC raised its stake in Chevron by 2.1% during the fourth quarter. Woodmont Investment Counsel LLC now owns 115,563 shares of the oil and gas company’s stock worth $16,738,000 after acquiring an additional 2,352 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in Chevron by 0.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company’s stock worth $19,314,000 after acquiring an additional 785 shares in the last quarter. Clune & Associates LTD. acquired a new position in Chevron during the fourth quarter worth about $367,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Chevron during the fourth quarter worth about $3,947,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $164.37 on Monday. The stock has a market capitalization of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50 day moving average price is $156.29 and its two-hundred day moving average price is $152.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 in the prior year, the firm earned $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred 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 directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents 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 through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus 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.