Chevron Co. (NYSE:CVX) Shares Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP boosted its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,411 shares of the oil and gas company’s stock after buying an additional 920 shares during the quarter. Lyell Wealth Management LP’s holdings in Chevron were worth $7,818,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley raised its holdings in Chevron by 7.0% during 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. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Chevron by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after acquiring an additional 62,254 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $0.84 during mid-day trading on Wednesday, reaching $163.69. The company had a trading volume of 7,607,146 shares, compared to its average volume of 8,448,613. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $304.02 billion, a P/E ratio of 14.41, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock’s 50-day simple moving average is $156.14 and its two-hundred day simple moving average is $151.75.

Chevron (NYSE:CVX) last posted its 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 company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the business posted $4.09 earnings per share. Research analysts anticipate that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.98%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CVX shares. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron 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.