Jackson Hole Capital Partners LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Jackson Hole Capital Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,208 shares of the oil and gas company’s stock after purchasing an additional 1,177 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Chevron were worth $1,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Morgan Stanley grew its position in 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 acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 1.5% in 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 acquiring an additional 368,898 shares in the last quarter. Northern Trust Corp grew its position in Chevron by 2.6% in the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Chevron by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after acquiring an additional 62,254 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CVX shares. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

Chevron Trading Up 1.0 %

Shares of Chevron stock traded up $1.70 on Thursday, hitting $165.27. 9,694,216 shares of the company traded hands, compared to its average volume of 8,464,199. The stock’s 50 day moving average price is $156.35 and its 200-day moving average price is $151.84. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market cap of $306.95 billion, a PE ratio of 14.55, a PEG ratio of 2.40 and a beta of 1.12.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 3.95%. Chevron’s payout ratio is 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.