Symphony Financial Ltd. Co. Buys 1,940 Shares of Chevron Co. (NYSE:CVX)

Symphony Financial Ltd. Co. grew its stake in Chevron Co. (NYSE:CVX) by 6.8% during the fourth quarter, Holdings Channel reports. The firm owned 30,576 shares of the oil and gas company’s stock after purchasing an additional 1,940 shares during the period. Symphony Financial Ltd. Co.’s holdings in Chevron were worth $4,833,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVX. Marietta Wealth Management LLC boosted its holdings in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC raised its holdings in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC boosted its holdings in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares during the last quarter. Finally, State Street Corp grew its position in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Chevron Trading Down 4.5 %

NYSE:CVX opened at $149.21 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock’s fifty day moving average price is $153.19 and its two-hundred day moving average price is $151.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $268.14 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same period in the previous year, the firm posted $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.58%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial boosted their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Raymond James raised their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.