Lazari Capital Management Inc. Purchases 312 Shares of Chevron Co. (NYSE:CVX)

Lazari Capital Management Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,507 shares of the oil and gas company’s stock after acquiring an additional 312 shares during the quarter. Lazari Capital Management Inc.’s holdings in Chevron were worth $653,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Czech National Bank raised its holdings in shares of Chevron by 6.1% in the third quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after acquiring an additional 19,878 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Chevron by 3.2% in the third quarter. Azzad Asset Management Inc. ADV now owns 30,489 shares of the oil and gas company’s stock worth $4,490,000 after acquiring an additional 942 shares in the last quarter. Smith Anglin Financial LLC grew its position in Chevron by 4.5% during the 3rd quarter. Smith Anglin Financial LLC now owns 6,384 shares of the oil and gas company’s stock worth $940,000 after purchasing an additional 275 shares during the last quarter. Chemistry Wealth Management LLC increased its position in shares of Chevron by 17.7% in the 3rd quarter. Chemistry Wealth Management LLC now owns 4,144 shares of the oil and gas company’s stock valued at $610,000 after acquiring an additional 622 shares during the period. Finally, Miracle Mile Advisors LLC increased its holdings in shares of Chevron by 1.4% in the third quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock valued at $3,933,000 after purchasing an additional 372 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CVX shares. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Stock Up 0.1 %

Shares of NYSE:CVX opened at $149.39 on Tuesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50 day moving average price is $153.19 and its 200 day moving average price is $151.02. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business earned $3.45 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% 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.