Horizon Kinetics Asset Management LLC Has $2.85 Million Holdings in Chevron Co. (NYSE:CVX)

Horizon Kinetics Asset Management LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 19,646 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Chevron were worth $2,846,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in Chevron by 5.1% in the 4th quarter. Signaturefd LLC now owns 22,874 shares of the oil and gas company’s stock valued at $3,313,000 after buying an additional 1,113 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Chevron by 53.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 21,721 shares of the oil and gas company’s stock valued at $3,146,000 after buying an additional 7,567 shares during the period. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at approximately $25,000. RS Crum Inc. increased its stake in Chevron by 68.6% in the 4th quarter. RS Crum Inc. now owns 4,230 shares of the oil and gas company’s stock valued at $613,000 after buying an additional 1,721 shares during the period. Finally, Signature Wealth Management Group increased its stake in Chevron by 7.1% in the 4th quarter. Signature Wealth Management Group now owns 26,643 shares of the oil and gas company’s stock valued at $3,859,000 after buying an additional 1,759 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value 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 represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Truist Financial decreased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their target price 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. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

NYSE CVX opened at $157.10 on Monday. 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 company has a fifty day simple moving average of $155.03 and a 200 day simple moving average of $152.06. The company has a market cap of $276.59 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

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

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio is 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.