Lbmc Investment Advisors LLC Increases Position in Chevron Co. (NYSE:CVX)

Lbmc Investment Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,842 shares of the oil and gas company’s stock after buying an additional 200 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Chevron were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Liberty One Investment Management LLC lifted its position in Chevron by 9.0% during the fourth quarter. Liberty One Investment Management LLC now owns 27,570 shares of the oil and gas company’s stock valued at $3,993,000 after purchasing an additional 2,265 shares during the period. Kelly Financial Services LLC lifted its position in Chevron by 11.7% during the fourth quarter. Kelly Financial Services LLC now owns 2,959 shares of the oil and gas company’s stock valued at $429,000 after purchasing an additional 311 shares during the period. Clarius Group LLC lifted its position in Chevron by 7.2% during the fourth quarter. Clarius Group LLC now owns 12,939 shares of the oil and gas company’s stock valued at $1,874,000 after purchasing an additional 868 shares during the period. Aaron Wealth Advisors LLC lifted its position in Chevron by 22.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,860 shares of the oil and gas company’s stock valued at $1,283,000 after purchasing an additional 1,609 shares during the period. Finally, Riversedge Advisors LLC raised its position in shares of Chevron by 3.6% in the fourth quarter. Riversedge Advisors LLC now owns 3,850 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 132 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.4 %

Shares of NYSE CVX opened at $161.54 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $290.30 billion, a PE ratio of 17.75, a P/E/G 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. The company has a 50-day moving average of $153.93 and a 200 day moving average of $151.05.

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

Chevron Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Company 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.