Carret Asset Management LLC Has $12.06 Million Position in Chevron Co. (NYSE:CVX)

Carret Asset Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 80,820 shares of the oil and gas company’s stock after acquiring an additional 288 shares during the quarter. Chevron makes up 1.5% of Carret Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Carret Asset Management LLC’s holdings in Chevron were worth $12,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Picton Mahoney Asset Management bought a new position in Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC bought a new position in Chevron in the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc boosted its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Wells Fargo & Company raised their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $0.84 during trading hours on Wednesday, reaching $163.69. 7,607,146 shares of the stock traded hands, compared to its average volume of 8,448,613. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $155.88 and its two-hundred day simple moving average is $151.66. The company has a market capitalization of $304.02 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.09 EPS. Equities research analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

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.