Chevron Co. (NYSE:CVX) Shares Purchased by SageView Advisory Group LLC

SageView Advisory Group LLC raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,641 shares of the oil and gas company's stock after purchasing an additional 2,031 shares during the period. SageView Advisory Group LLC's holdings in Chevron were worth $2,121,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC lifted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have commented on CVX. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company lowered 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 Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $169.50.

Chevron Price Performance

Shares of CVX traded down $0.77 on Tuesday, reaching $134.55. The stock had a trading volume of 9,318,593 shares, compared to its average volume of 7,894,061. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $236.88 billion, a PE ratio of 13.84, a PEG ratio of 1.46 and a beta of 0.93. The firm has a 50-day moving average of $154.64 and a 200 day moving average of $153.69. 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 announced 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the firm posted $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

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.