Ellsworth Advisors LLC Buys 4,807 Shares of Chevron Co. (NYSE:CVX)

Ellsworth Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,131 shares of the oil and gas company's stock after purchasing an additional 4,807 shares during the quarter. Chevron accounts for approximately 1.4% of Ellsworth Advisors LLC's portfolio, making the stock its 21st largest position. Ellsworth Advisors LLC's holdings in Chevron were worth $5,523,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Marietta Wealth Management LLC increased its position in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock valued at $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its position 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 acquiring an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 11.5% during 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 acquiring an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock worth $17,844,000 after acquiring an additional 3,933 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Chevron by 0.6% in 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 purchasing an additional 874,962 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price for the company. Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $175.27.

Chevron Stock Down 2.0 %

Shares of CVX traded down $3.31 on Tuesday, reaching $158.16. The stock had a trading volume of 10,127,118 shares, compared to its average volume of 8,066,192. 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 firm has a market capitalization of $284.23 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. The company has a 50-day simple moving average of $154.03 and a 200-day simple moving average of $151.04. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. Chevron's quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.