Blue Chip Partners LLC Has $205,000 Holdings in Chevron Co. (NYSE:CVX)

Blue Chip Partners LLC lifted its stake in Chevron Co. (NYSE:CVX) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,372 shares of the oil and gas company’s stock after buying an additional 116 shares during the period. Blue Chip Partners LLC’s holdings in Chevron were worth $205,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter worth $33,000. Legacy Financial Group LLC acquired a new position in Chevron in the third quarter worth $43,000. Finally, Roble Belko & Company Inc boosted its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Royal Bank of Canada upped their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.25.

Chevron Stock Performance

Shares of NYSE CVX opened at $165.30 on Monday. The stock has a 50 day moving average price of $156.58 and a 200 day moving average price of $151.66. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market capitalization of $307.01 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 earnings per share. Analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.94%. Chevron’s dividend payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.