Berger Financial Group Inc Has $627,000 Stake in Chevron Co. (NYSE:CVX)

Berger Financial Group Inc decreased its stake in shares of Chevron Co. (NYSE:CVX) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,327 shares of the oil and gas company’s stock after selling 112 shares during the period. Berger Financial Group Inc’s holdings in Chevron were worth $627,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Chevron by 5.7% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,865 shares of the oil and gas company’s stock valued at $705,000 after acquiring an additional 263 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of Chevron by 6.0% during the 4th quarter. Prosperity Consulting Group LLC now owns 12,067 shares of the oil and gas company’s stock valued at $1,748,000 after acquiring an additional 684 shares during the last quarter. Bolthouse Investments LLC acquired a new position in shares of Chevron during the 4th quarter valued at about $653,000. Wills Financial Group Inc. increased its holdings in shares of Chevron by 4.9% during the 4th quarter. Wills Financial Group Inc. now owns 39,871 shares of the oil and gas company’s stock valued at $5,775,000 after acquiring an additional 1,867 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in shares of Chevron by 21.8% during the 4th quarter. Johnson Financial Group Inc. now owns 26,315 shares of the oil and gas company’s stock valued at $3,926,000 after acquiring an additional 4,718 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $165.71.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $138.69 on Monday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a 50 day moving average of $151.70 and a 200-day moving average of $152.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $244.18 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.93%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.