Chevron Co. (NYSE:CVX) Shares Acquired by LVW Advisors LLC

LVW Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,945 shares of the oil and gas company's stock after acquiring an additional 1,962 shares during the period. LVW Advisors LLC's holdings in Chevron were worth $1,585,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. Fairscale Capital LLC acquired a new stake in Chevron in the second quarter worth about $100,000. Discovery Capital Management LLC CT acquired a new stake in Chevron in the 2nd quarter worth approximately $30,705,000. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Commonwealth Financial Services LLC increased its stake in Chevron by 2.9% during the 2nd quarter. Commonwealth Financial Services LLC now owns 3,359 shares of the oil and gas company's stock valued at $518,000 after purchasing an additional 96 shares in the last quarter. Finally, Certified Advisory Corp lifted its stake in shares of Chevron by 6.1% during the second quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company's stock worth $2,692,000 after buying an additional 985 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. UBS Group upped their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Finally, Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business'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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

CVX traded down $3.31 during midday trading on Tuesday, hitting $158.16. 10,127,118 shares of the company traded hands, compared to its average volume of 8,066,192. The company has a market capitalization of $284.23 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.46 and a beta of 1.12. The business has a 50 day simple moving average of $154.03 and a two-hundred day simple moving average of $151.04. 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 Co. has a 52-week low of $135.37 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 EPS. Chevron's revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. 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.