Private Wealth Partners LLC Grows Stake in Chevron Co. (NYSE:CVX)

Private Wealth Partners LLC lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,308 shares of the oil and gas company's stock after purchasing an additional 5,269 shares during the quarter. Chevron comprises 2.2% of Private Wealth Partners LLC's investment portfolio, making the stock its 12th biggest holding. Private Wealth Partners LLC's holdings in Chevron were worth $28,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company's stock valued at $1,147,359,000 after acquiring an additional 138,496 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 sale, the vice president now owns 1,057 shares in the company, valued at $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 available at the SEC website. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Finally, Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.87 during mid-day trading on Friday, reaching $156.92. 6,686,883 shares of the company traded hands, compared to its average volume of 6,690,703. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $282.00 billion, a PE ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The company's 50 day moving average price is $151.97 and its 200-day moving average price is $151.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the business earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron's dividend payout ratio (DPR) is currently 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.