Chevron Co. (NYSE:CVX) Shares Acquired by Grant GrossMendelsohn LLC

Grant GrossMendelsohn LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 46.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,293 shares of the oil and gas company’s stock after purchasing an additional 728 shares during the period. Grant GrossMendelsohn LLC’s holdings in Chevron were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVX shares. Piper Sandler reduced their target price 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 upped their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Citigroup raised 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 research note on Tuesday, November 26th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, UBS Group upped their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

CVX stock opened at $161.54 on Friday. 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 P/E/G ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business’s 50-day moving average is $153.84 and its two-hundred day moving average is $151.06.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.05 earnings per share. Analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. 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.

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.