Seven Mile Advisory Acquires 351 Shares of Chevron Co. (NYSE:CVX)

Seven Mile Advisory lifted its holdings in Chevron Co. (NYSE:CVX) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,135 shares of the oil and gas company’s stock after acquiring an additional 351 shares during the period. Seven Mile Advisory’s holdings in Chevron were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. United Bank increased its holdings in Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at about $2,370,000. Cobblestone Capital Advisors LLC NY lifted its position in shares of Chevron by 3.2% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 28,623 shares of the oil and gas company’s stock worth $4,215,000 after buying an additional 883 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in Chevron by 2.6% during the third quarter. Semmax Financial Advisors Inc. now owns 5,343 shares of the oil and gas company’s stock valued at $830,000 after buying an additional 134 shares during the last quarter. Finally, Morton Community Bank grew its holdings in Chevron by 1.8% during the 3rd quarter. Morton Community Bank now owns 25,957 shares of the oil and gas company’s stock valued at $3,823,000 after buying an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.4 %

NYSE CVX opened at $166.06 on Monday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The company’s 50-day moving average price is $157.10 and its 200-day moving average price is $153.60. The stock has a market cap of $292.37 billion, a PE ratio of 17.08, a PEG 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.

Chevron (NYSE:CVX) last issued 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CVX shares. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.