Jackson Thornton Wealth Management LLC Purchases Shares of 1,591 Chevron Co. (NYSE:CVX)

Jackson Thornton Wealth Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,591 shares of the oil and gas company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. United Bank raised its position in shares of Chevron by 8.4% in the 3rd 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. Truepoint Inc. purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $203,000. StoneX Group Inc. raised its position in shares of Chevron by 9.8% in the 3rd quarter. StoneX Group Inc. now owns 39,962 shares of the oil and gas company’s stock valued at $5,885,000 after purchasing an additional 3,576 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its position in shares of Chevron by 44.9% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 17,122 shares of the oil and gas company’s stock valued at $2,522,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Managed Asset Portfolios LLC raised its position in shares of Chevron by 2.6% in the 3rd quarter. Managed Asset Portfolios LLC now owns 126,767 shares of the oil and gas company’s stock valued at $18,669,000 after purchasing an additional 3,231 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $164.37 on Monday. The firm has a market cap of $289.39 billion, a PE ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. The firm has a fifty day moving average of $156.29 and a 200 day moving average of $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 Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared 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 is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. Chevron’s payout ratio is presently 70.37%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.