4,104 Shares in Chevron Co. (NYSE:CVX) Purchased by Dale Q Rice Investment Management Ltd

Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,104 shares of the oil and gas company's stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Marietta Wealth Management LLC increased its stake in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock worth $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its holdings in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock valued at $1,214,000 after purchasing an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. increased 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 worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC raised its stake in shares of Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock worth $17,844,000 after buying an additional 3,933 shares during the period. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% during the 3rd 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 buying an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

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

Chevron Price Performance

CVX stock traded up $1.50 during trading on Tuesday, hitting $156.85. 6,828,183 shares of the company's stock traded hands, compared to its average volume of 7,989,630. The business has a fifty day simple moving average of $153.71 and a 200 day simple moving average of $150.94. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $281.87 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler reduced their target price 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. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. 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 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus price target 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.