Kovitz Investment Group Partners LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Kovitz Investment Group Partners LLC boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,860 shares of the oil and gas company's stock after purchasing an additional 92,294 shares during the period. Kovitz Investment Group Partners LLC's holdings in Chevron were worth $37,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Allianz SE acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $9,369,000. Nicholas Company Inc. raised its holdings in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC boosted its position in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after purchasing an additional 2,755 shares in the last quarter. Cerity Partners LLC grew its holdings in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in Chevron in the fourth quarter valued at $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

Chevron Trading Down 0.3 %

CVX stock traded down $0.38 on Friday, hitting $138.69. 6,875,984 shares of the company were exchanged, compared to its average volume of 7,938,328. 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 stock has a market capitalization of $244.18 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The business's fifty day moving average is $151.70 and its two-hundred day moving average is $152.97.

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 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 period last year, the company earned $3.45 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Friday, February 14th. Chevron's payout ratio is currently 70.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $165.71.

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.