Sanctuary Wealth Management L.L.C. Increases Stock Position in Chevron Co. (NYSE:CVX)

Sanctuary Wealth Management L.L.C. raised its position in Chevron Co. (NYSE:CVX) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 420 shares of the oil and gas company’s stock after buying an additional 95 shares during the period. Sanctuary Wealth Management L.L.C.’s holdings in Chevron were worth $61,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter valued at $1,036,302,000. Bank of New York Mellon Corp grew its holdings in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Amundi raised its position in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Finally, State Street Corp grew its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock opened at $166.06 on Friday. The business’s 50-day moving average is $157.10 and its two-hundred day moving average is $153.49. 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 firm has a market capitalization of $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last posted 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. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced 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 boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.12%. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

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

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.