Lincoln National Corp Boosts Position in Chevron Co. (NYSE:CVX)

Lincoln National Corp boosted its position in shares of Chevron Co. (NYSE:CVX) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,986 shares of the oil and gas company’s stock after acquiring an additional 3,457 shares during the quarter. Lincoln National Corp’s holdings in Chevron were worth $12,378,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in Chevron during the third quarter valued at about $26,000. Bare Financial Services Inc bought a new stake in Chevron during the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at about $33,000. Finally, Legacy Financial Group LLC bought a new stake in Chevron during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold 13,247 shares of company stock worth $2,154,164 in the last ninety days. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVX shares. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Truist Financial decreased their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Trading Up 0.2 %

Shares of CVX stock traded up $0.37 on Tuesday, reaching $162.67. 6,718,377 shares of the company’s stock were exchanged, compared to its average volume of 8,464,016. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $300.45 billion, a PE ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11. The company’s fifty day simple moving average is $157.41 and its 200 day simple moving average is $151.48.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the company earned $3.55 EPS. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron’s payout ratio is currently 59.98%.

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.