Brown Financial Advisors Acquires 926 Shares of Chevron Co. (NYSE:CVX)

Brown Financial Advisors lifted its stake in Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,994 shares of the oil and gas company’s stock after purchasing an additional 926 shares during the quarter. Brown Financial Advisors’ holdings in Chevron were worth $2,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blackhawk Capital Partners LLC. raised its stake in Chevron by 2.2% during the fourth quarter. Blackhawk Capital Partners LLC. now owns 14,554 shares of the oil and gas company’s stock valued at $2,108,000 after buying an additional 310 shares during the last quarter. Synergy Financial Group LTD bought a new position in shares of Chevron during the fourth quarter valued at $247,000. Transcendent Capital Group LLC increased its holdings in shares of Chevron by 20.8% during the fourth quarter. Transcendent Capital Group LLC now owns 806 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 139 shares in the last quarter. Mengis Capital Management Inc. raised its position in shares of Chevron by 2.5% in the 4th quarter. Mengis Capital Management Inc. now owns 102,948 shares of the oil and gas company’s stock worth $14,911,000 after purchasing an additional 2,506 shares during the last quarter. Finally, CWS Financial Advisors LLC boosted its stake in Chevron by 21.6% in the 4th quarter. CWS Financial Advisors LLC now owns 6,164 shares of the oil and gas company’s stock worth $893,000 after purchasing an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of CVX stock opened at $157.85 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $283.68 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a 50 day simple moving average of $152.14 and a two-hundred day simple moving average of $151.20.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $3.45 earnings per share. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.