Choreo LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Choreo LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 27.1% in the fourth quarter, HoldingsChannel reports. The firm owned 135,707 shares of the oil and gas company’s stock after buying an additional 28,914 shares during the quarter. Choreo LLC’s holdings in Chevron were worth $19,529,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 0.1 %

Shares of NYSE CVX opened at $153.01 on Thursday. 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 business has a fifty day simple moving average of $152.79 and a two-hundred day simple moving average of $150.89. The firm has a market cap of $274.98 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.45 earnings per share. Analysts expect that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron’s payout ratio is 67.08%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday. Finally, Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Company 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.