PCA Investment Advisory Services Inc. Boosts Stake in Chevron Co. (NYSE:CVX)

PCA Investment Advisory Services Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 9.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,681 shares of the oil and gas company’s stock after acquiring an additional 139 shares during the period. PCA Investment Advisory Services Inc.’s holdings in Chevron were worth $243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its position in shares of Chevron by 5.2% in the second quarter. Brown Brothers Harriman & Co. now owns 48,299 shares of the oil and gas company’s stock valued at $7,555,000 after purchasing an additional 2,385 shares during the period. Sierra Summit Advisors LLC lifted its stake in Chevron by 13.8% in the 2nd quarter. Sierra Summit Advisors LLC now owns 1,839 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 223 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Terril Brothers Inc. increased its stake in Chevron by 8.7% during the 2nd quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock worth $320,000 after buying an additional 164 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. acquired a new position in shares of Chevron during the second quarter valued at approximately $348,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.85 on Wednesday. The stock has a fifty day simple moving average of $153.78 and a 200-day simple moving average of $150.95. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $281.87 billion, a PE ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

CVX has been the subject of several research reports. UBS Group boosted their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.87.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.