HBC Financial Services PLLC Buys 1,000 Shares of Chevron Co. (NYSE:CVX)

HBC Financial Services PLLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 526.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,190 shares of the oil and gas company’s stock after acquiring an additional 1,000 shares during the period. HBC Financial Services PLLC’s holdings in Chevron were worth $177,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P grew its position in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its position in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC grew its position in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its position in shares of Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after acquiring an additional 250,840 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVX shares. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Truist Financial decreased their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho lifted their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.60.

Chevron Price Performance

Shares of Chevron stock opened at $163.27 on Friday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $154.79 and a two-hundred day simple moving average of $152.32. The stock has a market capitalization of $303.24 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.09 EPS. Analysts forecast that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 3.99%. Chevron’s payout ratio is presently 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Chevron Company 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.