Chevron Co. (NYSE:CVX) Stock Position Lifted by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,870 shares of the oil and gas company’s stock after acquiring an additional 4,480 shares during the quarter. Chevron accounts for about 5.4% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 10th largest holding. Wilsey Asset Management Inc.’s holdings in Chevron were worth $28,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tacita Capital Inc boosted its stake in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. raised its holdings in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its position in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares during the period. S.A. Mason LLC grew its holdings in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC increased its position in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of analyst reports. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Shares of CVX opened at $152.54 on Monday. The firm’s 50-day simple moving average is $152.21 and its two-hundred day simple moving average is $150.85. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The stock has a market cap of $274.13 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the company posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were 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 approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company 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.