Full Sail Capital LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Full Sail Capital LLC increased its stake in Chevron Co. (NYSE:CVX) by 1.7% 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 7,909 shares of the oil and gas company’s stock after acquiring an additional 135 shares during the period. Full Sail Capital LLC’s holdings in Chevron were worth $1,146,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Regent Peak Wealth Advisors LLC boosted its stake in shares of Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 168 shares during the period. CJM Wealth Advisers Ltd. lifted its stake in Chevron by 5.1% in the fourth quarter. CJM Wealth Advisers Ltd. now owns 2,901 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 140 shares during the last quarter. First International Bank & Trust boosted its position in shares of Chevron by 50.9% during the fourth quarter. First International Bank & Trust now owns 3,162 shares of the oil and gas company’s stock valued at $458,000 after buying an additional 1,066 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Chevron by 17.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,038,871 shares of the oil and gas company’s stock valued at $152,995,000 after buying an additional 157,272 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Chevron by 49.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 20,607 shares of the oil and gas company’s stock worth $2,985,000 after buying an additional 6,822 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $161.25.

Chevron Price Performance

Shares of CVX stock opened at $138.52 on Friday. The stock’s 50-day moving average is $147.91 and its 200 day moving average is $152.05. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $243.88 billion, a P/E ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.