Scott & Selber Inc. Has $1.95 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Scott & Selber Inc. raised its position in Chevron Co. (NYSE:CVX) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,451 shares of the oil and gas company’s stock after acquiring an additional 157 shares during the period. Scott & Selber Inc.’s holdings in Chevron were worth $1,948,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Alta Capital Management LLC raised its stake in shares of Chevron by 6.4% in the fourth quarter. Alta Capital Management LLC now owns 38,672 shares of the oil and gas company’s stock valued at $5,601,000 after purchasing an additional 2,341 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the period. DDFG Inc raised its stake in shares of Chevron by 7.0% in the 4th quarter. DDFG Inc now owns 1,540 shares of the oil and gas company’s stock valued at $223,000 after buying an additional 101 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in shares of Chevron by 38.1% in the 4th quarter. Reaves W H & Co. Inc. now owns 10,630 shares of the oil and gas company’s stock valued at $1,540,000 after buying an additional 2,930 shares in the last quarter. Finally, Unified Investment Management acquired a new stake in shares of Chevron during the 4th quarter valued at about $729,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Shares of CVX stock opened at $153.05 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $153.35 and its 200-day moving average is $151.58. The firm has a market capitalization of $269.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the company posted $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Chevron 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.