2,213 Shares in Chevron Co. (NYSE:CVX) Acquired by Optas LLC

Optas LLC purchased a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,213 shares of the oil and gas company’s stock, valued at approximately $321,000.

A number of other large investors also recently made changes to their positions in CVX. Czech National Bank grew its holdings in Chevron by 6.1% in the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after buying an additional 19,878 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Chevron by 1.4% in the third quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock worth $3,933,000 after acquiring an additional 372 shares during the last quarter. Heartwood Wealth Advisors LLC grew its holdings in Chevron by 4.4% in the third quarter. Heartwood Wealth Advisors LLC now owns 6,187 shares of the oil and gas company’s stock valued at $911,000 after purchasing an additional 263 shares during the period. Chapin Davis Inc. increased its position in Chevron by 4.9% during the third quarter. Chapin Davis Inc. now owns 31,752 shares of the oil and gas company’s stock worth $4,676,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Exeter Financial LLC raised its stake in Chevron by 0.6% during the third quarter. Exeter Financial LLC now owns 25,943 shares of the oil and gas company’s stock worth $3,821,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Chevron Price Performance

CVX stock opened at $153.14 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week 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 company has a market capitalization of $275.20 billion, a PE ratio of 15.75, a P/E/G ratio of 1.29 and a beta of 1.11. The stock’s 50 day moving average is $152.97 and its two-hundred day moving average is $150.93.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 earnings per share. Analysts predict that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred 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 in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.