First Business Financial Services Inc. Raises Position in Chevron Co. (NYSE:CVX)

First Business Financial Services Inc. grew its position in Chevron Co. (NYSE:CVX) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,629 shares of the oil and gas company’s stock after buying an additional 508 shares during the period. First Business Financial Services Inc.’s holdings in Chevron were worth $815,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC raised its holdings in Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the last quarter. State Street Corp raised its holdings in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. LPL Financial LLC raised its holdings in Chevron by 5.7% in the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after buying an additional 171,089 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd purchased a new position in Chevron in the fourth quarter worth about $594,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.7 %

Shares of CVX stock opened at $150.93 on Thursday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $265.73 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.46 and a beta of 1.08. 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 company has a 50 day simple moving average of $153.65 and a two-hundred day simple moving average of $151.61.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the previous year, the firm earned $3.45 EPS. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio 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.