Chevron Co. (NYSE:CVX) Shares Purchased by Ballast Advisors LLC

Ballast Advisors LLC increased its position in Chevron Co. (NYSE:CVX) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,730 shares of the oil and gas company’s stock after buying an additional 182 shares during the period. Ballast Advisors LLC’s holdings in Chevron were worth $975,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. United Bank boosted its stake in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Chevron by 93.6% during the third quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after purchasing an additional 60,750 shares during the last quarter. Jennison Associates LLC grew its stake in Chevron by 11.9% in the third quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock worth $66,225,000 after purchasing an additional 47,747 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Chevron by 20.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 5,471 shares of the oil and gas company’s stock valued at $806,000 after buying an additional 920 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter valued at approximately $30,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Wells Fargo & Company decreased their target price 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 decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

CVX stock opened at $164.80 on Friday. The firm has a 50 day simple moving average of $156.07 and a 200 day simple moving average of $152.40. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $290.14 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 quarter last year, the business posted $3.45 EPS. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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 stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.