Chevron Co. (NYSE:CVX) Shares Bought by Sage Investment Advisers LLC

Sage Investment Advisers LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,285 shares of the oil and gas company’s stock after purchasing an additional 410 shares during the quarter. Chevron makes up 4.4% of Sage Investment Advisers LLC’s portfolio, making the stock its 5th largest holding. Sage Investment Advisers LLC’s holdings in Chevron were worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CVX. Palisade Asset Management LLC boosted its position in Chevron by 3.2% during the 4th quarter. Palisade Asset Management LLC now owns 92,111 shares of the oil and gas company’s stock worth $13,739,000 after acquiring an additional 2,821 shares during the period. Simmons Bank grew its stake in shares of Chevron by 1.8% in the fourth quarter. Simmons Bank now owns 93,978 shares of the oil and gas company’s stock worth $14,018,000 after acquiring an additional 1,647 shares during the last quarter. Charles Schwab Investment Advisory Inc. raised its position in shares of Chevron by 17.8% during the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 1,935 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 293 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its holdings in Chevron by 5.9% during the fourth quarter. Aviance Capital Partners LLC now owns 5,165 shares of the oil and gas company’s stock valued at $770,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold a total of 13,247 shares of company stock worth $2,154,164 in the last three months. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.35.

Chevron Price Performance

Shares of CVX traded down $0.13 during mid-day trading on Wednesday, hitting $162.54. 6,684,375 shares of the stock were exchanged, compared to its average volume of 8,445,553. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a 50-day moving average of $157.62 and a two-hundred day moving average of $151.45. The company has a market cap of $300.21 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last posted 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. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.55 EPS. On average, equities analysts predict that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Announces Dividend

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

Chevron Company 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.