Chevron Co. (NYSE:CVX) Position Boosted by Liberty One Investment Management LLC

Liberty One Investment Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,570 shares of the oil and gas company’s stock after acquiring an additional 2,265 shares during the period. Liberty One Investment Management LLC’s holdings in Chevron were worth $3,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC lifted its position in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. boosted its position in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $161.54 on Monday. The firm’s 50-day simple moving average is $153.93 and its two-hundred day simple moving average is $151.05. The company has a market cap of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Raymond James boosted their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly 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 SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.