Ignite Planners LLC Grows Stake in Chevron Co. (NYSE:CVX)

Ignite Planners LLC grew its holdings in Chevron Co. (NYSE:CVX) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,797 shares of the oil and gas company’s stock after buying an additional 137 shares during the quarter. Ignite Planners LLC’s holdings in Chevron were worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Brown Brothers Harriman & Co. lifted its holdings in Chevron by 5.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock worth $7,555,000 after buying an additional 2,385 shares during the period. Sierra Summit Advisors LLC lifted its holdings in Chevron by 13.8% in the 2nd quarter. Sierra Summit Advisors LLC now owns 1,839 shares of the oil and gas company’s stock worth $288,000 after buying an additional 223 shares during the period. Wulff Hansen & CO. lifted its holdings in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the period. Terril Brothers Inc. lifted its holdings in Chevron by 8.7% in the 2nd quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock worth $320,000 after buying an additional 164 shares during the period. Finally, Luts & Greenleigh Group Inc. bought a new position in shares of Chevron in the 2nd quarter worth approximately $348,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

CVX stock opened at $156.85 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a fifty day moving average price of $153.78 and a 200-day moving average price of $150.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $281.87 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVX. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.87.

About Chevron

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.