LPL Financial LLC Acquires 190,422 Shares of Chevron Co. (NYSE:CVX)

LPL Financial LLC increased its holdings in Chevron Co. (NYSE:CVX) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,338,108 shares of the oil and gas company’s stock after purchasing an additional 190,422 shares during the quarter. LPL Financial LLC’s holdings in Chevron were worth $483,491,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter valued at $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at $39,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.2 %

Chevron stock opened at $164.37 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a 50 day moving average price of $156.29 and a 200-day moving average price of $152.57. The company has a market capitalization of $289.39 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 EPS. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business 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 is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.