LPL Financial LLC Raises Position in Chevron Co. (NYSE:CVX)

LPL Financial LLC grew its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,338,108 shares of the oil and gas company's stock after purchasing an additional 190,422 shares during the period. LPL Financial LLC owned approximately 0.19% of Chevron worth $483,491,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter valued at approximately $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.13.

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Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Chevron stock traded up $0.54 during trading hours on Tuesday, reaching $165.56. 3,495,612 shares of the stock were exchanged, compared to its average volume of 7,337,986. 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 cap of $291.48 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm's 50 day moving average is $156.49 and its 200 day moving average is $152.81.

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

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Chevron Company Profile

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.