Chevron Co. (NYSE:CVX) Stake Boosted by Theory Financial LLC

Theory Financial LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,077 shares of the oil and gas company’s stock after acquiring an additional 200 shares during the period. Theory Financial LLC’s holdings in Chevron were worth $301,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth $25,000. Rational Advisors LLC bought a new position in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVX shares. Citigroup upgraded shares of 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. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Chevron

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

Chevron Stock Down 1.2 %

Shares of Chevron stock opened at $156.92 on Friday. The company’s fifty day simple moving average is $151.97 and its two-hundred day simple moving average is $151.05. The company has a market cap of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, February 14th. This is a boost 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.