Johnson Investment Counsel Inc. Buys 15,507 Shares of Chevron Co. (NYSE:CVX)

Johnson Investment Counsel Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 792,982 shares of the oil and gas company’s stock after purchasing an additional 15,507 shares during the period. Chevron accounts for 1.1% of Johnson Investment Counsel Inc.’s holdings, making the stock its 19th biggest position. Johnson Investment Counsel Inc.’s holdings in Chevron were worth $114,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CVX. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at about $31,000. New Wave Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $39,000. Finally, Newton One Investments LLC bought a new stake in Chevron in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.48 on Monday. The firm’s fifty day moving average price is $154.08 and its two-hundred day moving average price is $151.78. The stock has a market cap of $275.51 billion, a PE ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business posted $3.45 EPS. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup raised shares of 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. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.