Marshall Financial Group LLC Raises Position in Chevron Co. (NYSE:CVX)

Marshall Financial Group LLC increased its holdings in Chevron Co. (NYSE:CVX) by 37.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,879 shares of the oil and gas company’s stock after purchasing an additional 507 shares during the quarter. Marshall Financial Group LLC’s holdings in Chevron were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Fisher Asset Management LLC increased its position in shares of Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. increased its position in shares of Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Chevron by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after acquiring an additional 138,496 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $155.62 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50-day simple moving average is $153.81 and its 200 day simple moving average is $151.14. The firm has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.