AGP Franklin LLC Acquires Shares of 12,892 Chevron Co. (NYSE:CVX)

AGP Franklin LLC acquired a new position in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,892 shares of the oil and gas company's stock, valued at approximately $1,867,000.

Several other large investors have also bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter worth about $29,000. Fairway Wealth LLC grew its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $39,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $45,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX traded up $2.32 during mid-day trading on Friday, reaching $137.68. The company's stock had a trading volume of 8,423,604 shares, compared to its average volume of 7,913,168. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a fifty day moving average of $153.94 and a two-hundred day moving average of $153.50. 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 firm has a market capitalization of $242.39 billion, a PE ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. Chevron's payout ratio is 70.37%.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Tuesday. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.50.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

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.