Searle & CO. Has $2.48 Million Position in Chevron Co. (NYSE:CVX)

Searle & CO. boosted its holdings in Chevron Co. (NYSE:CVX) by 98.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,639 shares of the oil and gas company’s stock after purchasing an additional 8,238 shares during the quarter. Searle & CO.’s holdings in Chevron were worth $2,482,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC bought a new position in Chevron during the third quarter valued at about $43,000. Finally, Roble Belko & Company Inc increased its holdings in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Truist Financial dropped their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Chevron stock traded down $1.64 during mid-day trading on Wednesday, hitting $159.63. 7,712,057 shares of the company traded hands, compared to its average volume of 8,445,480. The stock has a fifty day moving average price of $156.96 and a 200-day moving average price of $151.68. The stock has a market cap of $296.48 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the business earned $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 13.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. Chevron’s dividend payout ratio is 59.98%.

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.