Empire Financial Management Company LLC Raises Stake in Chevron Co. (NYSE:CVX)

Empire Financial Management Company LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,361 shares of the oil and gas company’s stock after acquiring an additional 480 shares during the quarter. Chevron comprises about 1.0% of Empire Financial Management Company LLC’s holdings, making the stock its 29th largest position. Empire Financial Management Company LLC’s holdings in Chevron were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Chevron Stock Down 0.4 %

Shares of CVX stock opened at $136.70 on Thursday. The firm has a fifty day moving average of $152.37 and a 200-day moving average of $153.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $240.68 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company earned $3.45 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 5.00%. Chevron’s dividend payout ratio is presently 70.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $165.71.

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.