SFE Investment Counsel Has $2.12 Million Holdings in Chevron Co. (NYSE:CVX)

SFE Investment Counsel lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 432.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,192 shares of the oil and gas company’s stock after buying an additional 11,525 shares during the quarter. SFE Investment Counsel’s holdings in Chevron were worth $2,117,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVX. Cambridge Trust Co. lifted its stake in Chevron by 0.3% in the fourth quarter. Cambridge Trust Co. now owns 116,207 shares of the oil and gas company’s stock valued at $17,333,000 after buying an additional 388 shares in the last quarter. CapWealth Advisors LLC boosted its position in shares of Chevron by 3.9% in the fourth quarter. CapWealth Advisors LLC now owns 178,296 shares of the oil and gas company’s stock valued at $26,595,000 after acquiring an additional 6,736 shares during the period. Federated Hermes Inc. lifted its position in Chevron by 14.2% during the fourth quarter. Federated Hermes Inc. now owns 1,363,970 shares of the oil and gas company’s stock worth $203,450,000 after purchasing an additional 169,381 shares during the period. OLD Second National Bank of Aurora lifted its holdings in shares of Chevron by 3.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 10,912 shares of the oil and gas company’s stock worth $1,628,000 after acquiring an additional 352 shares during the last quarter. Finally, HF Advisory Group LLC lifted its holdings in shares of Chevron by 23.7% in the fourth quarter. HF Advisory Group LLC now owns 2,875 shares of the oil and gas company’s stock worth $429,000 after acquiring an additional 551 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

CVX stock traded up $0.96 during midday trading on Thursday, hitting $157.36. 2,992,899 shares of the company’s stock were exchanged, compared to its average volume of 8,500,965. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.38. The business has a 50-day simple moving average of $155.19 and a two-hundred day simple moving average of $151.86. The stock has a market capitalization of $292.26 billion, a PE ratio of 13.83, a P/E/G ratio of 2.30 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the firm earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price target on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

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.