Chevron Co. (NYSE:CVX) Holdings Raised by Lockerman Financial Group Inc.

Lockerman Financial Group Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,046 shares of the oil and gas company’s stock after purchasing an additional 174 shares during the quarter. Lockerman Financial Group Inc.’s holdings in Chevron were worth $320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Chevron by 4.9% during the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after acquiring an additional 1,005 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in Chevron during the fourth quarter worth about $83,000. WCM Investment Management LLC acquired a new position in Chevron during the fourth quarter worth about $258,000. Simplicity Wealth LLC acquired a new position in Chevron during the fourth quarter worth about $245,000. Finally, Capital Advisors Inc. OK grew its holdings in Chevron by 4.4% during the fourth quarter. Capital Advisors Inc. OK now owns 527,278 shares of the oil and gas company’s stock worth $78,649,000 after acquiring an additional 22,023 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

NYSE:CVX traded up $2.13 during trading hours on Thursday, reaching $146.80. The company had a trading volume of 6,283,964 shares, compared to its average volume of 7,888,967. The stock has a 50-day moving average of $154.18 and a two-hundred day moving average of $156.00. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization of $270.55 billion, a PE ratio of 13.46, a PEG ratio of 2.42 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 EPS. Analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.