Smart Money Group LLC Has $529,000 Holdings in Chevron Co. (NYSE:CVX)

Smart Money Group LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,651 shares of the oil and gas company’s stock after acquiring an additional 1,025 shares during the quarter. Smart Money Group LLC’s holdings in Chevron were worth $529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial raised their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Up 1.4 %

CVX opened at $161.54 on Tuesday. The company has a fifty day moving average price of $153.93 and a two-hundred day moving average price of $151.01. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. 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, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.05 EPS. Analysts predict that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.