Archford Capital Strategies LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Archford Capital Strategies LLC raised its position in Chevron Co. (NYSE:CVX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,117 shares of the oil and gas company’s stock after purchasing an additional 97 shares during the quarter. Archford Capital Strategies LLC’s holdings in Chevron were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. International Assets Investment Management LLC boosted its position in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its position in Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. grew its position in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, 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 research report on Thursday, December 19th. 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, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

Shares of NYSE CVX opened at $155.62 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market cap of $279.66 billion, a PE ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The stock has a 50 day simple moving average of $153.81 and a 200-day simple moving average of $151.14. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.