SNS Financial Group LLC Takes $210,000 Position in Chevron Co. (NYSE:CVX)

SNS Financial Group LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,448 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related 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 value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.1 %

Chevron stock opened at $158.89 on Friday. The stock’s fifty day moving average is $151.91 and its two-hundred day moving average is $150.91. The stock has a market cap of $285.53 billion, a PE ratio of 16.35, a P/E/G ratio of 1.43 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last issued its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business posted $3.45 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. 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. 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 research report on Tuesday, November 5th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Truist Financial reduced their target price 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

About Chevron

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.