Lynch & Associates IN Has $7.78 Million Position in Chevron Co. (NYSE:CVX)

Lynch & Associates IN increased its position in shares of Chevron Co. (NYSE:CVX) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,678 shares of the oil and gas company’s stock after purchasing an additional 1,206 shares during the period. Chevron makes up about 1.7% of Lynch & Associates IN’s portfolio, making the stock its 16th biggest holding. Lynch & Associates IN’s holdings in Chevron were worth $7,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Atlas Brown Inc. grew its position in Chevron by 1.5% in the fourth quarter. Atlas Brown Inc. now owns 23,870 shares of the oil and gas company’s stock valued at $3,457,000 after acquiring an additional 343 shares during the last quarter. HBW Advisory Services LLC boosted its stake in shares of Chevron by 2.0% in the 4th quarter. HBW Advisory Services LLC now owns 17,984 shares of the oil and gas company’s stock valued at $2,605,000 after purchasing an additional 359 shares in the last quarter. Sage Capital Advisors llc increased its holdings in shares of Chevron by 1.2% during the fourth quarter. Sage Capital Advisors llc now owns 41,502 shares of the oil and gas company’s stock worth $6,011,000 after buying an additional 483 shares in the last quarter. Highline Wealth Partners LLC grew its position in Chevron by 15.0% during the 4th quarter. Highline Wealth Partners LLC now owns 643 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 84 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Chevron by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,839 shares of the oil and gas company’s stock valued at $6,929,000 after buying an additional 1,161 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Chevron Stock Up 2.0 %

Shares of Chevron stock traded up $2.99 during midday trading on Friday, hitting $153.29. The company had a trading volume of 11,057,248 shares, compared to its average volume of 7,539,276. The company has a 50 day moving average of $153.68 and a 200 day moving average of $151.08. The stock has a market capitalization of $275.48 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the business earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

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.