Fiduciary Financial Group LLC Raises Position in Chevron Co. (NYSE:CVX)

Fiduciary Financial Group LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,783 shares of the oil and gas company’s stock after buying an additional 127 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Chevron were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Chevron by 5.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after acquiring an additional 2,385 shares during the last quarter. Sierra Summit Advisors LLC raised its holdings in shares of Chevron by 13.8% during the second quarter. Sierra Summit Advisors LLC now owns 1,839 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 223 shares during the last quarter. Wulff Hansen & CO. lifted its position in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the period. Terril Brothers Inc. boosted its holdings in Chevron by 8.7% in the second quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock worth $320,000 after purchasing an additional 164 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new stake in Chevron in the 2nd quarter worth approximately $348,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVX shares. Wells Fargo & Company raised their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Chevron Price Performance

CVX stock opened at $156.85 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s fifty day moving average price is $153.78 and its 200-day moving average price is $150.95. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $281.87 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by 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.