Wilbanks Smith & Thomas Asset Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,233 shares of the oil and gas company’s stock after buying an additional 930 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Chevron were worth $14,205,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in Chevron during the fourth quarter valued at about $33,000. Legacy Financial Group LLC purchased a new stake in Chevron during the third quarter worth about $43,000. Finally, Roble Belko & Company Inc raised its position 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 acquiring an additional 150 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Trading Up 0.6 %

Shares of NYSE CVX traded up $0.94 during midday trading on Thursday, hitting $160.57. The company’s stock had a trading volume of 2,166,443 shares, compared to its average volume of 8,368,179. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm has a market cap of $298.22 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The business’s 50 day moving average is $157.04 and its two-hundred day moving average is $151.74. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.55 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.