Sigma Planning Corp Acquires 6,515 Shares of Chevron Co. (NYSE:CVX)

Sigma Planning Corp raised its holdings in shares of Chevron Co. (NYSE:CVX) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,810 shares of the oil and gas company’s stock after purchasing an additional 6,515 shares during the quarter. Sigma Planning Corp’s holdings in Chevron were worth $8,228,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVX. Pathway Financial Advisers LLC grew its stake in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. State Street Corp boosted its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

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

Chevron Stock Down 1.2 %

CVX stock opened at $156.92 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $151.97 and its 200 day moving average is $150.99. The stock has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 quarter in the prior year, the firm earned $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.