Chevron Co. (NYSE:CVX) Shares Acquired by Sage Capital Advisors llc

Sage Capital Advisors llc increased its position in shares of Chevron Co. (NYSE:CVX) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 41,502 shares of the oil and gas company’s stock after acquiring an additional 483 shares during the period. Chevron accounts for about 1.6% of Sage Capital Advisors llc’s holdings, making the stock its 17th largest position. Sage Capital Advisors llc’s holdings in Chevron were worth $6,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVX. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Stock Performance

NYSE:CVX traded up $2.83 during midday trading on Friday, reaching $153.13. The stock had a trading volume of 6,013,295 shares, compared to its average volume of 6,657,551. The stock has a market cap of $275.19 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a fifty day simple moving average of $153.68 and a two-hundred day simple moving average of $151.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.05 EPS. On average, equities analysts expect that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.