Savvy Advisors Inc. Buys 8,398 Shares of Chevron Co. (NYSE:CVX)

Savvy Advisors Inc. boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 145.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,155 shares of the oil and gas company's stock after buying an additional 8,398 shares during the period. Savvy Advisors Inc.'s holdings in Chevron were worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Stamos Capital Partners L.P. grew its holdings in shares of Chevron by 0.6% in the fourth quarter. Stamos Capital Partners L.P. now owns 87,170 shares of the oil and gas company's stock valued at $12,626,000 after acquiring an additional 500 shares in the last quarter. Brogan Financial Inc. boosted its position in Chevron by 18.0% in the fourth quarter. Brogan Financial Inc. now owns 3,089 shares of the oil and gas company's stock worth $447,000 after purchasing an additional 471 shares during the last quarter. BTG Pactual Asset Management US LLC bought a new position in Chevron in the 4th quarter valued at $228,000. WealthTrust Axiom LLC increased its position in shares of Chevron by 1.3% during the 4th quarter. WealthTrust Axiom LLC now owns 15,329 shares of the oil and gas company's stock valued at $2,220,000 after purchasing an additional 200 shares during the last quarter. Finally, Advisors Capital Management LLC raised its stake in shares of Chevron by 1.5% during the 4th quarter. Advisors Capital Management LLC now owns 562,406 shares of the oil and gas company's stock worth $81,459,000 after purchasing an additional 8,376 shares during the period. Institutional investors own 72.42% of the company's stock.

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Chevron Price Performance

Shares of CVX traded up $0.87 during trading hours on Wednesday, reaching $135.41. 8,628,901 shares of the company's stock traded hands, compared to its average volume of 7,906,390. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $154.64 and its 200-day simple moving average is $153.69. The stock has a market cap of $238.40 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 in the previous year, the firm posted $3.45 earnings per share. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 5.05%. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of "Moderate Buy" and a consensus price target of $169.50.

Insider Transactions at Chevron

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

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.