Douglas Lane & Associates LLC Purchases 27,742 Shares of Chevron Co. (NYSE:CVX)

Douglas Lane & Associates LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,006 shares of the oil and gas company’s stock after acquiring an additional 27,742 shares during the period. Douglas Lane & Associates LLC’s holdings in Chevron were worth $69,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Lantz Financial LLC lifted its stake in shares of Chevron by 2.7% during the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Chevron by 4,325.4% during the second quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Chevron by 594.0% in the 2nd quarter. Acadian Asset Management LLC now owns 141,091 shares of the oil and gas company’s stock valued at $22,062,000 after buying an additional 120,760 shares in the last quarter. Lane & Associates LLC grew its position in shares of Chevron by 14.2% in the 2nd quarter. Lane & Associates LLC now owns 2,495 shares of the oil and gas company’s stock worth $390,000 after buying an additional 310 shares during the last quarter. Finally, LGT Fund Management Co Ltd. raised its stake in shares of Chevron by 318.9% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 26,245 shares of the oil and gas company’s stock worth $4,105,000 after acquiring an additional 19,980 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $0.50 during trading on Wednesday, hitting $150.09. 3,871,375 shares of the company traded hands, compared to its average volume of 6,060,842. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock’s 50-day simple moving average is $153.63 and its 200 day simple moving average is $151.10. The company has a market cap of $269.73 billion, a PE ratio of 16.49, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 10.5 earnings per share 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 issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.34%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group raised their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.19.

Insiders Place Their Bets

In other 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 transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Chevron 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.