Chevron Co. (NYSE:CVX) Stock Position Increased by Prosperitas Financial LLC

Prosperitas Financial LLC lifted its position in Chevron Co. (NYSE:CVX) by 11.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,284 shares of the oil and gas company’s stock after buying an additional 2,331 shares during the period. Chevron makes up 1.7% of Prosperitas Financial LLC’s holdings, making the stock its 17th largest position. Prosperitas Financial LLC’s holdings in Chevron were worth $3,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter valued at about $25,000. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.57 on Friday. The business has a 50 day moving average price of $152.83 and a 200 day moving average price of $151.34. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $281.36 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.37%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Activity at Chevron

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

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.