Simon Quick Advisors LLC Buys 1,296 Shares of Chevron Co. (NYSE:CVX)

Simon Quick Advisors LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,703 shares of the oil and gas company’s stock after acquiring an additional 1,296 shares during the quarter. Simon Quick Advisors LLC’s holdings in Chevron were worth $1,116,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Rational Advisors LLC bought a new stake in Chevron during the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new position in shares of Chevron during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVX shares. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. 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 research report on Tuesday, December 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $156.39 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a 50 day moving average of $154.09 and a 200-day moving average of $151.07. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $281.05 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.45 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 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.