Chevron Co. (NYSE:CVX) Stake Increased by Lantz Financial LLC

Lantz Financial LLC increased its stake in Chevron Co. (NYSE:CVX) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,365 shares of the oil and gas company’s stock after buying an additional 1,264 shares during the period. Chevron comprises about 0.9% of Lantz Financial LLC’s investment portfolio, making the stock its 23rd largest position. Lantz Financial LLC’s holdings in Chevron were worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new stake in Chevron during the second quarter valued at $244,000. Scientech Research LLC increased its stake in Chevron by 132.3% during the second quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 2,849 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in Chevron by 26.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 5,454 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 1,154 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in Chevron by 12.2% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 9,396 shares of the oil and gas company’s stock valued at $1,470,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Core Wealth Advisors Inc. increased its stake in Chevron by 7.5% during the second quarter. Core Wealth Advisors Inc. now owns 1,279 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $155.62 on Friday. The company has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. The company has a 50-day simple moving average of $153.81 and a 200 day simple moving average of $151.15. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, 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 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.