Chevron Co. (NYSE:CVX) Position Increased by TFC Financial Management Inc.

TFC Financial Management Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 118.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,477 shares of the oil and gas company’s stock after buying an additional 1,345 shares during the quarter. TFC Financial Management Inc.’s holdings in Chevron were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVX. Wedge Capital Management L L P NC lifted its position in shares of Chevron by 4.3% in the third quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 120 shares in the last quarter. Regatta Capital Group LLC lifted its position in shares of Chevron by 9.9% in the third quarter. Regatta Capital Group LLC now owns 5,497 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 493 shares in the last quarter. PFG Advisors lifted its position in shares of Chevron by 5.6% in the third quarter. PFG Advisors now owns 39,340 shares of the oil and gas company’s stock worth $5,794,000 after purchasing an additional 2,084 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of Chevron by 12.0% in the third quarter. Foster Victor Wealth Advisors LLC now owns 60,740 shares of the oil and gas company’s stock worth $9,090,000 after purchasing an additional 6,486 shares in the last quarter. Finally, QV Investors Inc. lifted its position in shares of Chevron by 0.6% in the third quarter. QV Investors Inc. now owns 22,897 shares of the oil and gas company’s stock worth $3,372,000 after purchasing an additional 140 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CVX shares. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 1.6 %

Shares of CVX stock opened at $154.91 on Thursday. The stock has a market cap of $278.39 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The stock has a fifty day moving average price of $151.99 and a 200 day moving average price of $150.81. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

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.