Benedict Financial Advisors Inc. Has $3.98 Million Holdings in Chevron Co. (NYSE:CVX)

Benedict Financial Advisors Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,493 shares of the oil and gas company’s stock after acquiring an additional 142 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Chevron were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. International Assets Investment Management LLC grew its position in Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. increased its stake in Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 11.5% in the 3rd 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 in the last quarter. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $152.54 on Friday. The stock has a market cap of $274.13 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock’s 50-day moving average price is $152.21 and its two-hundred day moving average price is $150.88. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm posted $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 67.08%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.