OneAscent Financial Services LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

OneAscent Financial Services LLC lifted its stake in Chevron Co. (NYSE:CVX) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,551 shares of the oil and gas company’s stock after buying an additional 1,580 shares during the period. OneAscent Financial Services LLC’s holdings in Chevron were worth $804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $166.62 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $293.35 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.46 and a beta of 1.08. The business’s 50 day moving average price is $157.63 and its 200-day moving average price is $154.08. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released 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 in the prior year, the company earned $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.11%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Insiders Place Their Bets

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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. 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 research note on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their price target 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. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.