Baker Ellis Asset Management LLC Has $1.04 Million Position in Chevron Co. (NYSE:CVX)

Baker Ellis Asset Management LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,166 shares of the oil and gas company’s stock after acquiring an additional 150 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Chevron were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fred Alger Management LLC lifted its position in Chevron by 7.4% in the 2nd quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock worth $10,022,000 after buying an additional 4,435 shares in the last quarter. AXA S.A. boosted its position in Chevron by 15.1% during the second quarter. AXA S.A. now owns 413,390 shares of the oil and gas company’s stock valued at $64,662,000 after purchasing an additional 54,363 shares during the last quarter. AQR Capital Management LLC grew its stake in Chevron by 41.3% in the second quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock valued at $134,233,000 after purchasing an additional 250,902 shares in the last quarter. Ameriprise Financial Inc. increased its position in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC purchased a new stake in shares of Chevron during the 2nd quarter worth about $216,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

CVX stock opened at $155.99 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $280.32 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The business’s 50-day simple moving average is $154.05 and its 200 day simple moving average is $151.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for 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%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.05 EPS. On average, research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group upped their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is 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.