Financial & Tax Architects LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Financial & Tax Architects LLC increased its stake in Chevron Co. (NYSE:CVX - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,920 shares of the oil and gas company's stock after buying an additional 3,132 shares during the period. Chevron accounts for 1.5% of Financial & Tax Architects LLC's portfolio, making the stock its 26th largest position. Financial & Tax Architects LLC's holdings in Chevron were worth $6,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in 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 purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Chevron by 15,750.1% in 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 buying an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 buying an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 11.5% during the 3rd 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 buying an additional 3,203,899 shares in the last quarter. Finally, State Street Corp raised its position 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 worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Raymond James raised their price target on shares of Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a report on Friday. Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a "buy" rating and a $168.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company's stock.

Chevron Trading Up 1.4 %

NYSE:CVX traded up $2.16 during midday trading on Friday, hitting $161.54. 9,233,657 shares of the company traded hands, compared to its average volume of 7,835,055. The firm has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The firm's fifty day moving average is $153.93 and its 200-day moving average is $151.05. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 - Get Free Report) last released its 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 net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the business earned $3.05 EPS. The business's revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron's payout ratio is 71.65%.

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.