Sigma Planning Corp Purchases 6,515 Shares of Chevron Co. (NYSE:CVX)

Sigma Planning Corp raised its position in Chevron Co. (NYSE:CVX) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,810 shares of the oil and gas company’s stock after buying an additional 6,515 shares during the quarter. Sigma Planning Corp’s holdings in Chevron were worth $8,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Callan Capital LLC increased its holdings in Chevron by 4.8% in the 4th quarter. Callan Capital LLC now owns 4,918 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 224 shares during the period. Redmond Asset Management LLC grew its holdings in shares of Chevron by 8.6% during the 4th quarter. Redmond Asset Management LLC now owns 22,095 shares of the oil and gas company’s stock valued at $3,200,000 after purchasing an additional 1,741 shares during the last quarter. Winebrenner Capital Management LLC bought a new stake in shares of Chevron during the 4th quarter valued at approximately $3,648,000. Navellier & Associates Inc. grew its holdings in shares of Chevron by 9.5% during the 4th quarter. Navellier & Associates Inc. now owns 20,051 shares of the oil and gas company’s stock valued at $2,904,000 after purchasing an additional 1,741 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its holdings in shares of Chevron by 8.1% during the 4th quarter. Prentice Wealth Management LLC now owns 3,604 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 271 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial decreased their price target 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. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays cut their target price 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. Four 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $156.92 on Friday. The company has a fifty day moving average of $151.97 and a 200-day moving average of $150.99. The firm has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. 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 Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 business posted $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.