Procyon Advisors LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Procyon Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 32.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,499 shares of the oil and gas company's stock after acquiring an additional 9,602 shares during the quarter. Procyon Advisors LLC's holdings in Chevron were worth $5,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Chevron by 0.6% during 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 acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Chevron by 3.6% in the 3rd 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 purchasing an additional 672,244 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock valued at $2,610,645,000 after purchasing an additional 573,218 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler cut 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. Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price for the company. 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.27.

Chevron Trading Up 1.4 %

Shares of CVX traded up $2.16 during mid-day trading on Friday, hitting $161.54. 9,233,657 shares of the company's stock traded hands, compared to its average volume of 7,835,055. The business's 50-day moving average price is $153.93 and its 200-day moving average price is $151.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.05 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.