Chevron Co. (NYSE:CVX) Position Increased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,649 shares of the oil and gas company’s stock after acquiring an additional 1,016 shares during the period. Capital Asset Advisory Services LLC’s holdings in Chevron were worth $3,792,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Blue Trust Inc. boosted its stake in Chevron by 21.8% in the 4th quarter. Blue Trust Inc. now owns 50,819 shares of the oil and gas company’s stock worth $7,484,000 after purchasing an additional 9,105 shares during the period. Register Financial Advisors LLC boosted its position in shares of Chevron by 2.2% in the fourth quarter. Register Financial Advisors LLC now owns 9,005 shares of the oil and gas company’s stock worth $1,304,000 after buying an additional 197 shares during the period. Strategic Investment Advisors MI grew its holdings in shares of Chevron by 7.7% during the fourth quarter. Strategic Investment Advisors MI now owns 1,533 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 109 shares in the last quarter. Stablepoint Partners LLC raised its position in Chevron by 1.6% during the fourth quarter. Stablepoint Partners LLC now owns 39,838 shares of the oil and gas company’s stock valued at $5,770,000 after buying an additional 631 shares during the period. Finally, Regatta Capital Group LLC lifted its stake in Chevron by 3.9% in the 4th quarter. Regatta Capital Group LLC now owns 5,713 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 216 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was 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 owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.20 on Tuesday. The business’s 50 day moving average is $153.81 and its 200-day moving average is $151.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.50 billion, a PE ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several analysts recently commented on CVX shares. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.