Kestra Investment Management LLC Buys 278 Shares of Chevron Co. (NYSE:CVX)

Kestra Investment Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,358 shares of the oil and gas company’s stock after acquiring an additional 278 shares during the period. Kestra Investment Management LLC’s holdings in Chevron were worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC increased its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC increased its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC boosted its holdings in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of CVX opened at $156.23 on Wednesday. The company has a market capitalization of $280.76 billion, a PE ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock’s 50-day moving average price is $151.80 and its two-hundred day moving average price is $150.81. 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 announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period last year, the company earned $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVX shares. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.