Raab & Moskowitz Asset Management LLC Acquires 368 Shares of Chevron Co. (NYSE:CVX)

Raab & Moskowitz Asset Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,531 shares of the oil and gas company’s stock after buying an additional 368 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Chevron were worth $2,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rather & Kittrell Inc. raised its stake in shares of Chevron by 8.6% during the fourth quarter. Rather & Kittrell Inc. now owns 3,491 shares of the oil and gas company’s stock worth $521,000 after buying an additional 277 shares during the last quarter. Spinnaker Trust raised its stake in shares of Chevron by 6.1% during the fourth quarter. Spinnaker Trust now owns 52,762 shares of the oil and gas company’s stock worth $7,870,000 after buying an additional 3,028 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Chevron by 5.6% during the fourth quarter. Kovack Advisors Inc. now owns 44,741 shares of the oil and gas company’s stock worth $6,674,000 after buying an additional 2,384 shares during the last quarter. Blodgett Wealth Advisors LLC increased its stake in Chevron by 2.7% in the fourth quarter. Blodgett Wealth Advisors LLC now owns 4,691 shares of the oil and gas company’s stock valued at $700,000 after purchasing an additional 125 shares in the last quarter. Finally, Herold Advisors Inc. increased its stake in Chevron by 1.9% in the fourth quarter. Herold Advisors Inc. now owns 24,465 shares of the oil and gas company’s stock valued at $3,650,000 after purchasing an additional 446 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $165.89 on Friday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a fifty day simple moving average of $156.58 and a 200 day simple moving average of $151.73. The stock has a market capitalization of $308.10 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.44 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 announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Truist Financial lowered their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, 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 note on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $184.75.

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.