Sage Investment Advisers LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Sage Investment Advisers LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,285 shares of the oil and gas company’s stock after acquiring an additional 410 shares during the period. Chevron accounts for about 4.4% of Sage Investment Advisers LLC’s investment portfolio, making the stock its 5th largest holding. Sage Investment Advisers LLC’s holdings in Chevron were worth $3,622,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Moody Lynn & Lieberson LLC grew its holdings in shares of Chevron by 20.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 93,201 shares of the oil and gas company’s stock valued at $15,716,000 after buying an additional 16,053 shares during the last quarter. Talbot Financial LLC raised its stake in shares of Chevron by 2.5% in the third quarter. Talbot Financial LLC now owns 92,438 shares of the oil and gas company’s stock worth $15,587,000 after purchasing an additional 2,230 shares during the last quarter. Forza Wealth Management LLC lifted its holdings in shares of Chevron by 7.8% during the third quarter. Forza Wealth Management LLC now owns 11,803 shares of the oil and gas company’s stock valued at $1,990,000 after purchasing an additional 850 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of Chevron by 2.5% during the third quarter. Independent Advisor Alliance now owns 153,027 shares of the oil and gas company’s stock valued at $25,804,000 after buying an additional 3,687 shares during the last quarter. Finally, SkyOak Wealth LLC increased its holdings in Chevron by 6.1% in the 3rd quarter. SkyOak Wealth LLC now owns 7,195 shares of the oil and gas company’s stock worth $1,213,000 after buying an additional 415 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Down 0.1 %

Shares of NYSE CVX traded down $0.13 during mid-day trading on Wednesday, hitting $162.54. The company had a trading volume of 6,684,375 shares, compared to its average volume of 8,445,553. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business’s 50-day simple moving average is $157.62 and its 200 day simple moving average is $151.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market capitalization of $300.21 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.55 earnings per share. On average, analysts predict that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders have sold 13,247 shares of company stock worth $2,154,164 over the last three months. Insiders own 0.20% of the company’s stock.

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.