Chevron Co. (NYSE:CVX) Shares Acquired by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 141.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,062 shares of the oil and gas company’s stock after buying an additional 8,230 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Chevron were worth $2,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Addison Capital Co raised its position in Chevron by 1.9% in the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 63 shares during the last quarter. NCM Capital Management LLC raised its holdings in shares of Chevron by 1.2% in the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after buying an additional 65 shares during the last quarter. Sweet Financial Partners LLC boosted its stake in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after buying an additional 65 shares during the period. Strategic Investment Advisors MI grew its holdings in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the last quarter. Finally, Alera Investment Advisors LLC increased its position in Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CVX shares. Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 16th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Price Performance

Shares of Chevron stock traded up $1.75 on Thursday, hitting $158.10. The company’s stock had a trading volume of 4,536,482 shares, compared to its average volume of 8,712,957. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The company has a market capitalization of $293.63 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $151.34 and a 200-day moving average price of $152.65.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.09 earnings per share. On average, equities research analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. Chevron’s payout ratio is 57.39%.

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.