Chevron Co. (NYSE:CVX) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,450 shares of the oil and gas company’s stock after acquiring an additional 798 shares during the quarter. Jacobi Capital Management LLC’s holdings in Chevron were worth $5,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Chevron during the 3rd quarter valued at approximately $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVX. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Stock Up 1.2 %

CVX stock opened at $158.59 on Friday. 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 cap of $285.00 billion, a PE ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a fifty day simple moving average of $153.14 and a 200 day simple moving average of $151.44.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $3.45 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.