Stokes Family Office LLC Has $8.54 Million Holdings in Chevron Co. (NYSE:CVX)

Stokes Family Office LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,941 shares of the oil and gas company’s stock after selling 316 shares during the period. Chevron accounts for about 0.9% of Stokes Family Office LLC’s investment portfolio, making the stock its 23rd biggest holding. Stokes Family Office LLC’s holdings in Chevron were worth $8,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. United Bank lifted its position in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 629 shares during the last quarter. Joseph Group Capital Management lifted its position in Chevron by 23.2% during the 3rd quarter. Joseph Group Capital Management now owns 16,393 shares of the oil and gas company’s stock worth $2,414,000 after acquiring an additional 3,092 shares during the last quarter. New England Asset Management Inc. lifted its position in Chevron by 0.4% during the 3rd quarter. New England Asset Management Inc. now owns 38,685 shares of the oil and gas company’s stock worth $5,697,000 after acquiring an additional 145 shares during the last quarter. Windle Wealth LLC lifted its position in Chevron by 12.4% during the 3rd quarter. Windle Wealth LLC now owns 43,928 shares of the oil and gas company’s stock worth $6,469,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its position in Chevron by 1.5% during the 3rd quarter. Lindenwold Advisors INC now owns 15,651 shares of the oil and gas company’s stock worth $2,305,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Piper Sandler cut 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. 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 report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

Shares of Chevron stock opened at $160.81 on Wednesday. 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 stock has a market capitalization of $283.12 billion, a price-to-earnings ratio of 16.54, 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. The firm’s 50-day moving average price is $155.49 and its two-hundred day moving average price is $152.23.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the firm earned $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.25%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is currently 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.