Bfsg LLC Has $4.05 Million Holdings in Chevron Co. (NYSE:CVX)

Bfsg LLC boosted its stake in Chevron Co. (NYSE:CVX) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,141 shares of the oil and gas company’s stock after buying an additional 1,020 shares during the period. Bfsg LLC’s holdings in Chevron were worth $4,048,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVX. International Assets Investment Management LLC boosted its holdings in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the last quarter. Morgan Stanley lifted its position in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $348,789,000. Envestnet Asset Management Inc. increased its holdings in Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after buying an additional 1,230,619 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after buying an additional 923,119 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Price Performance

CVX stock traded up $0.01 during mid-day trading on Thursday, reaching $163.58. 3,056,059 shares of the company traded hands, compared to its average volume of 8,377,654. The company has a market capitalization of $303.81 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a fifty day moving average price of $156.14 and a 200-day moving average price of $151.75. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. As a group, analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.99%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

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.