Addison Advisors LLC Has $703,000 Holdings in Chevron Co. (NYSE:CVX)

Addison Advisors LLC cut its holdings in Chevron Co. (NYSE:CVX) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,856 shares of the oil and gas company’s stock after selling 184 shares during the period. Addison Advisors LLC’s holdings in Chevron were worth $703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BankPlus Trust Department bought a new position in shares of Chevron in the fourth quarter valued at $361,000. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Chevron by 4.5% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 30,915 shares of the oil and gas company’s stock valued at $4,478,000 after buying an additional 1,324 shares in the last quarter. Edge Capital Group LLC grew its stake in shares of Chevron by 4.0% in the fourth quarter. Edge Capital Group LLC now owns 69,191 shares of the oil and gas company’s stock valued at $10,022,000 after buying an additional 2,689 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Chevron by 0.4% in the fourth quarter. Rothschild Investment LLC now owns 134,483 shares of the oil and gas company’s stock valued at $19,478,000 after buying an additional 536 shares in the last quarter. Finally, Wealthstream Advisors Inc. grew its stake in shares of Chevron by 4.4% in the fourth quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 70 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.6 %

Shares of Chevron stock opened at $157.85 on Tuesday. The firm has a 50-day moving average of $152.14 and a 200-day moving average of $151.20. The stock has a market cap of $283.68 billion, a PE ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 announced its earnings results 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 quarter in the prior year, the firm posted $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

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.